Fatima is the mother of three children who don’t yet go to school. She is married to U. M. who is involved in a bread-making and selling business in the market. He makes bread in an oven made of mud and heated with wood. He sells each bread for 5 PKRs. He is well known for his quality work and gets regular orders. He has 15 years of experience in this work. Fatima has applied for a loan from Asasah for her husband’s business. He will use the loan amount to buy flour in bulk and increase his business income. Fatima hopes that by making positive use of the loan, her husband will be able to improve his business and she will be able to send her children to school soon.
Fatima is a regular lender with Asasah and is in her third loan cycle. In previous loan years, she has proved herself to be a responsible client; she never missed any meeting and paid her installments on time.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid