Shafqat Kanwal's Group
She is married to I. H. who operates an optical store in the market. He keeps in his store variety of frames such as sun and eye glasses for his customers. He also provides eye testing facilities to his customers. He is the only money-maker in the family.
Shafqat is a housewife, stays at home and takes care of her family and does her household work. She has given birth to 3 daughters and a son. None of them are able to get an education due to poor financial resources.
Shafqat has applied for a loan from Kiva partner Asasah for her husband who will utilize the loan money in buying more eyeglass frames for resale. He has been operating this business for past 5 years. Shafqat is hopeful that an investment will bring more profits to her husband which will enable her to educate her children in near future.
She is a regular loan user of Asasah and this is her 2nd loan application. In the previous loan year, she has proved herself as a responsible client by paying her installments on time and attending every meeting.
Note: “In the photo, the lady with a book (called Asasah Passbook) is Shafqat kanwal”.
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