Her family respects her a lot and takes care of her just as she does for them. In this way, she has applied for a loan from Asasah for her husband who runs a grocery shop in the nearby market. With the loan he will buy groceries such as cooking oil, rice, soaps and lentils to sell in his shop.
Kousar is confident that by investing loan in her husband’s business, his business condition will be improved and her family will enjoy a better life.
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