Her husband, M., is a private entrepreneur and is involved in a dairy business. For this purpose, he keeps a buffalo at his home. That gives him almost 8kg milk, which he sells for 45 Pakistan rupees (PKRs) per kg. In this way, his daily income becomes PKRs 360, which helps him to manage the financial circle of his family.
Hafeez is a housewife. She prefers to stay at home and take care of her family. She has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, her husband will buy another buffalo for his dairy business and increase the milk productivity.
Hafeez is hopeful that her husband will successfully be able to increase his profits by utilizing the money positively. She is a regular loan user of Asasah and this is her second loan application. In the previous year, she has built good credit behavior and never missed any meetings.
Note: In the photo, the lady who is holding the book (called the Asasah Passbook) in her hands is Hafeez.
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