She is married to A. A. who is plumber by profession. He offers his services to his customers by repairing their water pipes and taps and also sells sanitary supplies to his customers. Perveen has applied for a loan from Kiva partner Asasah for her husband’s business. He will utilize the loan to purchase the water taps, water pipes, etc in bulk quantity for selling. He has started selling sanitary supplies few years ago and Perveen is confident that after this investment her husband’s business will improve and make his income double in size.
She is a regular loan user of Asasah and this is her fifth loan application. In previous loan years, she has proved herself a responsible client by paying the 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