She is a very hardworking lady. She carries out her responsibilities as a housewife very well. Besides being a housewife, she also works in a local factory on a monthly wage, and she handles this job very well. She does this work to share the financial burden with her husband. Her earning allows her to pay the school fees of her daughters.
Her husband, Z. H., is a carpenter by profession. He makes furniture on orders and earns income after completing them. He learned this art from his father because he was involved in the same profession. He practiced carefully to become skillful in this art and now he has been operating this business independently for 15 years.
Naseema has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, he will buy a wood-cutting machine because the manual cutter takes much of his time, causing him to fall behind on his orders.
She is hopeful that through this investment her husband will become more efficient in his work and able to achieve the orders 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