Shafqat’s husband’s name is B. K. and he has a business selling crockery. He sells both plastic and glass crockery sets to his customers and generates an income for the family. He also supplies dinner sets of plastic and glass to different crockery sellers for a good profit.
Shafqat has applied for a loan for her husband from Kiva partner, Asasah. With the loan he will buy more crockery sets to increase his sales. Shafqat is hopeful that this investment will prove beneficial for her husband’s business and that he will make a good income from it and be able to improve the living standard of his family.
Shafqat is a regular loan user of Asasah and this is her 4th loan. In previous years she has proved herself as a very dependable client who always paid her installments on time and never missed a meeting.
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