Haneefan Muhammad Aslam's Group
Haneefan supports her family by sewing and has regular orders from her neighboring clients. She also has a dairy business which she prefers. The reason for liking this business is because her parents are also in the same business and she used to take care of their cattle. Currently, she has a buffalo at her home which produces almost 8 kg of milk per day. She sells the milk to community members and uses this income to pay for the utilities expenses for her house.
She has applied for a loan from Kiva's partner, Asasah, for her dairy business. With the loan amount, she will buy another buffalo and increase her dairy business's productivity. Haneefan is a regular borrower from Asasah and this is her fifth loan application. With her previous loans, she has shown that she is a responsible person, having paid her installments on time and never missing a meeting.
Note: In this photo, Haneefan is the lady who is holding a book (the Asasah Passbook) in her hand.
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