In order to financially support her family, Hanifaan also does paid work. She packs different spices like black pepper, red-chilly powder, salt etc. on order and charges for her labor. She is the mother of three sons and a daughter who is young. Hanifaan couldn’t provide them education due to financial constraints. Her eldest son is involved in a potato-selling business. He buys potatoes from the vegetable market and sells to different vegetable shops to earn an income. He does this work to contribute to his family financially.
Hanifaan has applied for a loan from Kiva partner Asasah to improve her son’s business. With the loan, he will buy potatoes in bulk and increase his sales. Hanifaan is hopeful that through the loan investment her son will be able to take his business to more profitable position and make more income which will improve his family’s financial condition.
She is a regular loan user of Asasah and this is her 4th loan application. In previous loan years, she has proved herself as a responsible client who always paid her installments on time and never missed a single meeting.
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