Shahnaz Khalid Farooq's Group
Shahnaz is also involved in the embroidery business. She works on orders that she receives from customers in her neighborhood. She has a good number of customers and receives regular orders from them. She uses her income to pay utility bills and her children’s education fees.
Shahnaz is the mother of three children: two sons and a daughter. The first two children are enrolled in school and receiving an education while her youngest son is only three years old and has not started school yet.
Shahnaz has applied for a loan from Kiva partner, Asasah, to help her husband in his business. With the loan, he will buy unstitched clothes and embroidery materials such as beads, colored thread and patterns to offer a better service to his customers and to fulfill larger orders on time. He has been in this business for over 20 years and Shahnaz is hopeful that an investment will bring good changes in her husband’s business and increase his monthly income. She is a new loan applicant of Asasah and this is her first loan application. She hopes that it will be a profitable experience for her.
Note: In the photo, the lady with the book (an Asasah Passbook) is Shahnaz.
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