Her eldest son has a barber shop and the next to him is a welder by profession and welds different machines on order. Her husband, F. S., is a laborer by profession. He is a very hard worker and his work involves a lot of physical energy. He is still very active at the age of 55.
Safooran has applied for a loan from Kiva partner Asasah for her son’s barber shop. With the loan, her son will buy scissors and hair-related products such as creams, gels and colors to provide better services to the clients. He has been doing this business for the past four years and Safooran is hopeful that this investment will prove successful for his business.
She is a regular loan user of Asasah and this is her third loan application. In previous years, she has proved herself as a very responsible client who paid her installments on time and never missed any meetings.
Note: In the photo, the lady who is holding a book (called the Asasah Passbook) in her hands is Safooran.
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