Farzana started this business 11 years ago and she is confident that the loan investment will bring positive changes to her business. She will invest the loan in buying beauty products like facial creams, mascaras, eye shadows etc. She is a regular loan user of Asasah and this is her 5th loan application. In previous loan years, she has always attended every meeting and paid her installments on timely basis.
Note: In the photo, the lady holding a book (called Asasah Passbook) is Farzana.
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