She is a 43 year old lady married to 47 year old S. M., who runs a service station. He offers car and motorbike washing services to his clients and also sells motor oils.
Perveen is a housewife who stays at home and does her household work. She is also a very good mother who is bringing up her children with great care. She has given birth to 2 sons and a daughter. Her eldest son helps his father in his business. He is 18 years of age and left his education after completing 10th standard grade. Her other children stay at home and don't go to school.
She has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, he will buy car oil and washing items to provide better services to his clients.
Her husband has been doing this business for the past 10 years and Perveen is hopeful that this investment will bring positive changes to her husband’s business and make him more money.
She is a regular loan user of Asasah and this is her 5th loan application. In previous loan years, she has maintained good credit behavior and attended every meeting.
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