Suraiya lives in a big city called Lahore, the second largest city in Pakistan. She is 35 years old and lives with her family in a one-room brick house. She belongs to a poor family. She got married to M. J., who has a business making shoes to earn money for the family. He has been engaged in this business for the past 16 years. He works for some big factories that give him orders to fulfill. Suraiya supports her family financially as a midwife. She is the mother of four sons, all of whom are very young and getting their education. Suraiya’s husband wants to expand his shoe-making business by introducing his work to more factories. To do this, he needs raw materials. Suraiya has applied for a loan from Asasah for her husband. With the loan amount, her husband will buy leather, nails, and shoe polish in larger quantities. She is hopeful that, with the help of a loan, her husband will be able to improve his business, and that will help her family to enjoy a better quality of life. Suraiya is in her second loan cycle. In previous loan years she has maintained good credit behavior and never missed meetings.
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.