Saeeda is a 39 year old, uneducated lady. She loved getting an education when she was young but, unfortunately, her parents couldn’t fulfill her wish due to their poor financial condition.
Saeeda got married at the age of 20 and has given birth to four children. Her elder son runs a small bakery in the market where he sells ready-made baked items such as breads, biscuits and cakes on order. She has applied for a loan from Kiva partner, Asasah, for her son’s business. With the loan amount her son will buy bread, biscuits and cakes in bulk quantities for his bakery.
Saeeda is very supportive person and she is always ready to help her family in improving their living standards. She hopes that her son will get good profits from his business by making an investment towards it.
Note: “In the picture, the lady who is raising her hand is Saeeda”.
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