Her husband is a painter by profession and paints walls, ceilings, and houses on order. He makes deals with building and house owners and completes their work in the set time to earn an income for the family. Her brother is a scrap dealer. He operates a scrap shop in the market, and support Mumtaz financially through his earnings. Mumtaz supports her family by selling paper envelopes. She receives orders from different stationary shops and fulfills the orders on time. Besides her business, she has also proved herself to be a very good housewife, who takes care of her household responsibilities very well.
She has applied for a loan from Kiva partner Asasah for her brother who will buy scrap, such as used paper and plastic bottles, for his scrap business and make more income by increasing his sales. Mumtaz is hopeful that investing her loan money in her brother’s business will make him stand on his own feet and that his income will also be increased. She is a new loan user of Asasah and hopes it will be a profitable experience for her.
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