Rasoolan Akhter Ali's Group
Rasoolan is 50 years old and is married to A. A. who is a private entrepreneur and has a vegetable selling business. He operates his shop in the market and has been doing this business for the past 16 years. In his long years of experience, he has faced several problems, sometimes the lack of financial resources and sometimes competition from other vegetable sellers. But he never loses courage and has fought against these circumstances and successfully overcame them.
Rasoolan is a housewife who stays at home carrying out her household responsibilities and taking care of her family. She is the mother of three children, two sons and a daughter. Both of her sons are involved in the business of vegetable selling with their father and her daughter helps her in managing the household chores.
Rasoolan has applied for a loan from Kiva's partner, Asasah, for her husband’s business. With the loan amount, her husband will buy vegetables in bulk quantity for his vegetable selling business. Rasoolan is hopeful that this investment will be successful for her husband’s business and that he will be able to double his income. She is a new borrower from Asasah and this is her first loan application.
Note: In the photo, Rasoolan is the lady who is raising 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