Waziran Iqbal Hussain's Group
Waziran is a mother of two sons, both of whom are involved in an embroidery business. They run an embroidery shop in the market where they offer their services to customers in order to generate income for the family. The sons did not get an education because their parents were not in a position to afford it.
Waziran has applied for a loan from Kiva partner, Asasah, for her husband’s business. With the loan, he will purchase unstitched clothes of different varieties in bulk. The bulk purchasing will help him to increasing his sales and grow his business towards success. He has been in this business for over 25 years and Waziran is hopeful that this loan investment will bring good profits for her family. She is a new loan applicant to Asasah.
Note: In the photo, the lady who has holds the book (an Asasah passbook) in her hands is Waziran.
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