Razia lives in Faisalabad, Pakistan, a city famous for its textile industry. She lives there in a 2-room brick house in the area of Ghulamabad. She moved here after her marriage 20 years ago to A. B..
Her husband works for a private company for a very small income. For that reason, Razia started her business to help share the financial burden with him. They have 7 children, but due to financial reasons only 3 of them are able to get an education.
Razia has been operating her business for the past 4 years and is very confident that she will be able to improve the living standards for her family by expanding her business. She is a new loan user of Asasah and this is her first loan application.
Note: In the photo, the lady with the raised hand is Razia.
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