Naseem is a housewife, stays at home and does her household work. Her husband has a grocery store, located in the market. As grocery stores are considered to be some of the most profitable businesses, in every community there are two to three grocery stores available. Due to this, the competition is increasing day by day among grocery store owners and the only way to win business from the other grocery stores is to be better stocked than the competition.
Therefore, Naseem has applied for a loan from Kiva partner Asasah for her husband. With her portion of this group loan, he will purchase the groceries in bulk quantity that will enable him to compete with the other grocery shops and in fulfill the demands of his customers. Naseem is hopeful that with the help of this investment that her husband will successfully be able to get the desired results from his business. This is her first loan application with Asasah and she hopes that it will be a profitable experience for her.
Note: In the photo that accompanies this profile, the woman holding the Asasah Passbook is Naseem.
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