For over 10 years Bushra's husband, M. H., has been involved in a laundry business, offering washing and clothes-pressing services to his customers to earn an income for their family. He is a very hardworking person who works for nine hours on a daily basis.
Bushra is requesting a loan from Kiva partner Asasah for her husband’s business so that he can purchase an iron and washing machine to provide better and more timely services to his customers. She is sure that her husband will gain positive results in his business by making this loan investment.
A regular borrower from Asasah, this is Bushra's fourth loan application. In previous loan years, she proved to be a responsible client, attending all meetings and paying her installments on time.
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