Kaneez Fatima's Group
She has a business of making thread rolls. She gets thread from old, warm clothes such as sweaters and sells to different thread dealers at the market to earn a good income. She started doing this work when she moved to Kasur. She does this work to help her husband financially.
Kaneez has given birth to a son who is just 8 years old and studying in 3rd class.
She has applied for a loan from Kiva partner Asasah for the improvement of her thread-roll business. With the loan, she will buy warm clothes such as sweaters in a bulk quantity and get thread from them for selling.
She hopes that through this investment, her income will double in size and she will gradually take her business toward success.
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