Aalan Yaseen's Group
Aalan is a quality embroiderer. She crafts beautiful embroidery designs on different types of clothes. She is an expert in preparing wedding clothes. She has been in this business for the past eight years and receives regular orders every month. She knows different embroidery techniques and applies these in making new designs.
Aalan is married to Y. who runs a grocery shop in the nearby market. He sells daily use items such as eggs, sugar, rice and spices. His sales help him to make more income. Aalan has applied for a loan from Kiva partner, Asasah, for her husband’s business. With the loan, her husband will buy grocery items in bulk for his grocery shop. These will increase his sales and income because he will have more products to offer to his customers. Aalan is hopeful that this investment will bring positive changes to her husband’s business and that her family’s living standard will improve.
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