Shareefan lives in Kasur, a small city in Punjab, Pakistan famous for its leather industry, in a three-room brick house in the Chaki Piaray Lal area. She has four sons and two daughters. Her daughters are married and her sons are young and stay at home. Shareefan could not provide an education for her children due to financial constraints.
She has applied for a loan from Kiva partner Asasah for the betterment of her thread-selling business. With the loan, she will buy used sweaters to get a large quantity of thread. This will help her increase her sales and fulfill the orders of her clients. She has been operating this business for over ten years and is hopeful that a loan investment will bring further profit. She is a regular loan user of Asasah and this is her third loan application. In previous loan years, she has maintained good credit behavior by paying the loan installments on time.
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