Her husband’s name is M. B. and he is a fruit vendor by profession. He puts the fruits on his four-wheeled cart on every day morning and sells by visiting different streets of the city. His fruits are fresh and of good taste and that’s why he makes good sales every day.
Perveen has given birth to 7 children, 4 sons and 3 daughters. All of them study except the eldest and youngest one. Her eldest son helps his father in his business while her youngest son is 8 years old and has not started attending school yet. Perveen has applied for a loan from Kiva partner Asasah to help her husband for the expansion of his fruit selling business. By utilizing the loan money her husband will buy some fresh quality fruits for selling through his four-wheeled cart. Perveen is hopeful that through the loan investment, her husband’s business will grow further and his income will be increased.
She is a regular loan user of Asasah and this is her 2nd loan application. With her previous loan, she has built a good credit behavior and never missed any meeting.
Note: “In the photo, the lady with a raised hand 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