Khatoon is a talented 28-year-old lady. She not only manages her household responsibilities but also handles her embroidery business well. She does this work to supplement the income of her family. She crafts beautiful designs on clothes and sells to neighboring areas and also in the clothes shops. She completes each dress in three days time and earns good money from it. Each dress brings in a profit of almost 400-500 Pakistani rupees (PKR) which helps her to pay off the utilities. Her husband has a business selling groceries and runs a grocery shop in the market. Although he doesn't have a big shop, he thinks that he is lucky enough that people come to him to buy groceries. He welcomes his clients with a good smile and treats them well.
Khatoon has applied for a loan from Kiva's partner, Asasah, for her husband’s business. With the loan, her husband will put more groceries in his shop and fulfill the requirements of his customers.
Note: In the photo, the lady who is raising her hand is Khatoon.
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