Her elder son has a shoe manufacturing business and all of his siblings help him in completing his orders to financially contribute to the family. They are all illiterate and couldn’t get an education due to financial constraints. As a result they couldn’t find jobs.
Her husband is involved in a paranda-making business (an ornament used to tie-back hair). It is in high demand in the local market and he earns a good income from his profession.
Nazeeran is also a very talented lady. She operates an embroidery business at her home. She offers her services to her community ladies for a reasonable amount and gets good orders from them every month.
She has applied for a loan from the Kiva partner, Asasah, for the improvement of her son’s shoe manufacturing business. He will utilize the loan for the purchasing of raw material, like leather, nails, glue, etc. to manufacture more shoes for selling. He has been operating this business since he was a teenager and has vast experience in this field. Nazeeran is hopeful that an investment will take her son’s business to a more profitable position and that he will be able to make more money by fulfilling orders on time. She is a new loan applicant of Asasah.
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