Shamshad Begum's Group
Shamshad's husband is involved in a dairy business. He has some buffalos at his home from which he gets milk and sells to his customers to earn an income. Shamshad is a very talented lady, who operates an embroider business in her home. She collects orders from her community and earns income after completing them on time.
Shamshad has applied for a loan from Kiva partner Asasah for her eldest son’s business. With the loan, he will buy groceries, such as cooking oil, rice, sugar, and spices to sell in his grocery shop. Shamshad is hopeful that through this investment her son will be able to expand his business and doublehis income.
Note: In the photo, the lady with a book (called Asasah Passbook) is Shamshad begum.
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