Amna Naveed Hassan's Group
Amna's husband has a business selling washing machines. He has been in this business for many years and has a good reputation in the market. He gives his customers the advantage of paying for a washing machine in installments. Due to this, people like to buy a washing machines from him than from other sellers.
Amna supports her family by doing embroidery work. She is skilled at this work and likes to do it. In doing this work, she improves her skills and also helps her family financially. She receives orders from her customers in her neighborhood and provides them with the finished work on time in order to make a good income.
She has applied for a loan from Kiva partner, Asasah, to improve her husband’s business. With the loan, he will purchase more washing machines and sell them through his shop. She is hopeful that this investment will be a productive one for her husband and he will make more money from it.
Amna is a mother of two children – a five-year-old son who reads in one class and a three-year-old daughter who is not ready to attend school yet.
She is a new loan applicant of Asasah and hopes that it will bring good profits to her family.
Note: In the photo, the lady with the book (an Asasah Passbook) is Amna.
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