Nasreen is married to F. E., who has a business selling spare parts. He operates a small shop in the nearby market where he sells spare parts for different vehicles to earn an income for his family. He has been doing this business for over seven years. He sells spare parts of every quality and of every price so every kind of customer can approach him easily to buy them.
Nasreen has applied for a loan from Asasah for her husband’s business. With the loan, he will buy spare parts in large quantity which enable him to increase his clientele and generate a good profit. She hopes that this investment will prove beneficial for her husband’s business and result in her family being able to have better facilities in life.
In the photo, Nasreen is the lady who holds a book (it’s her Asasah passbook) in her hand.
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