To earn a living, Shazia is a beauty expert. Specifically, she provides beauty salon services to her clients, which include bridal makeup work and makeup for other parties. She is applying for a loan from Kiva partner Asasah for her beauty salon business. With the loan proceeds, she would like to buy beauty-related items such as makeup kits, face packs, and creams in bulk quantity so that she can provide better services to her clients. She hopes that the loan will have a positive impact on her business and that she will be able to realize greater profits. She is a new loan applicant of Asasah and this is her first loan application.
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