Parveen Shokat Ali's Group
Parveen supports her family financially by sewing and selling clothes. She mainly gets sewing orders from her neighborhood clients and sells a variety of her clothes to different clothing shops. She also imports clothes from Faisalabad (famous for its textile industry in Pakistan) at cheap rates, and by selling them to different clothing shops she earns a good profit.
Parveen has applied for a loan from Kiva’s partner Asasah for her clothing business. She will invest the loan in purchasing clothes of different varieties in bulk quantities. The bulk purchasing will cut her cost of travelling and also minimize the purchase price. She is experienced in her business and is confident that after investment, her business will improve and she will easily pay back her loan installments.
Parveen is a regular Asasah borrower. This is her fourth loan application. In previous loan periods, she proved herself a responsible client who never missed any meetings and paid her installments on time.
In the photo, the woman who holds a book (called an “Asasah Passbook”) in her hands is Parveen.
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