She is a seamstress and sews clothes for her clients who live in nearby areas. She also operates a clothes sales business. She purchases clothes from Lahore’s wholesale markets named “Ichra and Shahalmi” and sells them to her local area clients. Because both of her businesses are related to clothing, that is why this business combination is working well for her.
She has applied for a loan from Kiva partner Asasah for her clothes sales business. With the loan, she will buy clothes of different variety in bulk quantity for sale. The bulk purchasing will help her to cut her cost of purchasing and to improve her sales. She is hopeful that by utilizing a loan in her business she will be able to get the desired results.
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