Sughran is a housewife, stays at home and takes care of her house and family. She is the mother of 6 sons. Unfortunately, none of them could get an education due to poor financial condition. Her first two sons work in a private organization while the third son works in a general store. Sughran wants to secure her family’s future that’s why she wants improvement in her husband’s business.
For this reason, she has applied for a loan from Kiva partner, Asasah for her husband’s business. With the loan, he will stock more grocery items such as lentils, rice, cooking oil and spices etc in his shop. That will enable him in generating a good income from his business. Sughran is confident that her husband’s business will be improved after making this investment.
She is a regular loan user of Asasah and this is her 3rd loan application. In previous loan years, she has maintained a good credit rating and never missed any meeting.
Note: “In the photo, the lady who has holds a book (called Asasah Passbook) in her hands is Sughran”.
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