Meena has given birth to five sons and a daughter. All of them except the youngest one are enrolled in local schools and are getting their education. Meena works very hard to pay their school fees. She has applied for a loan from Kiva partner Asasah for the growth of her husband’s business. With the loan he will purchase polishers and brushes to further expand his business.
Meena is sure that an investment will be profitable for him and she will repay the loan easily. She is a regular loan user of Asasah and this is her 5th loan application. In previous loan years, she has maintained a good credit behavior and never missed any meeting.
Meena lives in Gujranwala which is located in Punjab, Pakistan and is famous for its industry and rice crops. She has lived there in a 2-room brick house with her family for many years.
Note: In the photo, the lady holding a book (called Asasah Passbook) is Meena.
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