Razia has given birth to two daughters. Her elder daughter has completed her 10th class and now she helps Razia in completing her embroidery orders. Her younger daughter is 8 years of age and studies in a local school.
Razia has applied for a loan from Kiva partner Asasah for her embroidery business. With the loan, she will buy embroidery items such as clothes, beads, colored thread and sketches in bulk quantity to fill larger orders on time. This loan investment will help her in making more money and to improve the financial condition of her family.
She is a new loan applicant of Asasah and hopes it will have a positive impact on her business.
Note: In the photo, the lady who has holds a book (called Asasah Passbook) in her hands is Razia.
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