She lives with her family in Khanewal, Pakistan. She has lived in a two-room brick house in an area named Christian colony for over 26 years. She has a son and daughter. Her son left school after 10th grade and started a job. Her daughter is in 9th grade.
She has applied for a loan from Kiva's partner, Asasah, for her husband’s business. With the loan, he will buy groceries in bulk to sell in his store. He has had this business for the past four years. Perveen is hopeful that an investment will bring better profits for her husband and her family will be able to enjoy a better life.
She is a regular borrower of Asasah--this is her fourth loan application. In previous years, she has maintained a good credit record 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