She has applied for a loan from Kiva partner Asasah to financially assist her husband who runs an electrician business and is the only breadwinner in the family. He offers his services, which include electricity repair, electricity installation, wiring, etc., at reasonable rates. With the loan, he will buy advanced repair tools.
Perveen is hopeful that, through the loan investment, her husband will be able to get more profits from his business by improving the quality of his services with advanced tools.
She is regular loan user of Asasah and this is her second loan application. In a previous loan year, she established a good credit record by paying the installments on time. She lives in Okara, which is a small city in Punjab, Pakistan known for its agricultural industry.
Note: In the photo, the lady with a book (an Asasah Passbook) is Perveen.
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