Her husband’s name is M. T. and he is a cobbler by profession. He makes shoes on orders received from different shoe factories and shoe shops. He has a shop in the market from which he offers his shoemaking services.
Bano has applied for a loan from Kiva partner Asasah to financially assist her husband in his shoemaking business. With the loan, he will buy leather, nails, and shoe polish in larger quantities in order to make shoes in bulk so that he can fulfill his orders on time and increase his income. He has been engaged in his business for past seven years and Bano is hopeful that her husband’s business will improve further after this loan investment.
She is a new loan applicant of Asasah and hopes that it will be a good 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