Begum gave birth to a son, Adil, and he is involved in a business selling fruits and vegetables. He couldn’t get an education due to the poor financial conditions of his parents, so he started this work in his early teens. His shop is located near his home and he offers quality fruits and vegetables to his clients at cheaper rates.
Begum has applied for a loan from Kiva partner Asasah for her son who wants to buy more seasonal vegetables and fruits for selling through his shop. He has been operating this business for more than 10 years and Begum is hopeful that an investment will help her son to improve his business and increase his income.
She a regular loan user of Asasah and this is her second loan application. In previous loans, she never gave a cause to complain and met her responsibilities effectively. She is a resident of a small city called Kot Radha Kishen in Pakistan. She has been living there in a three-room brick house with her family for past 20 years.
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