Mujeeb Begum's Group
Her husband’s name is M. T., and he is involved in a stamp papers selling business. Stamp papers are used for any legal documentation. Mujeeb has given birth to two sons. Her eldest son works with his father in his business and supports him in his dealing with his customers while her youngest son is studying in class 8.
Mujeeb has applied for a loan from the Kiva partner, Asasah, for her son, who wants to start his own stamp papers selling business. He will utilize the loan to buy stamp papers in larger quantities to create a good beginning for his business. This has become Mujeeb’s family business, and she is confident that the loan investment will bring good financial changes to her son's business.
She is a regular user of Asasah and this is her 5th loan application. She is a responsible client and has always paid her loan installments on time.
Note: In the photo, the lady holding a book (called the Asasah Passbook) is Mujeeb begum.
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