Nasreen is a very helpful woman, supporting her family through her bangles business. Wearing bangles is very common among women and young girls. She sells a good quantity of bangles every month in the nearby areas and also to different jewelry shops. The money she makes from her business allows her to pay the utilities expenses.
Nasreen has applied for a loan from Kiva's partner Asasah to improve her bangles sales business. With the loan, she will buy different varieties of bangles such as steel, metal and glass in bulk, which will help her sell more and increase her monthly income. She is hopeful that an investment will take her business to a more profitable position. She is a new loan applicant with Asasah and hopes that it will bring her more profits.
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