Parveen Akhter's Group
She is a 31-year-old lady who has been married to 39-year-old G. H. for the last 13 years. She is the mother of three daughters and two sons and lives in a three-room brick house with her family in an area named Mughalpura. Her husband is a rickshaw driver by profession. He provides transport facilities to his clients. Parveen supports her family financially by sewing clothes for her neighboring clients. She found the need to do this work a few years ago when she observed that her husband’s income alone was not enough to fulfill the basic needs of the family.
She has applied for a loan from Kiva partner Asasah for her husband. With the loan, he will buy a new rickshaw because his current rickshaw has become old and he cannot work with it for long hours. Parveen is hopeful that her husband will be able to increase his income by purchasing a new rickshaw and as a result her family will be able to have a better living standard. This is the second time Parveen has applied for a loan from Kiva partner Asasah.
Note: In the photo, the lady who is raising her hand is Parveen.
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