Her husband is involved in a bedsheets-selling business. He buys sheets from the city of Multan and sells them to his neighboring areas and in the market as well. Jameela has applied for a loan from the Kiva partner, Asasah, for her husband’s business. With the loan, he will buy bedsheets in bulk quantities that will enable him to increase his sales and to earn more income. Jameela is hopeful that this investment will make her husband’s business more profitable and help him to afford bedsheets of a different variety, which will help to make more money.
She is a new loan user and this is her 1st loan application. In the photo, the lady who is holding a book (called the Asasah Passbook) is Jameela.
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