She couldn’t educate her eldest son but she taught him the art of stitching. He is now a tailor and operates his tailoring shop in the market and supports the family financially. Perveen’s younger children are enrolled in a school and getting their education.
She has applied for a loan from Kiva partner Asasah for the expansion of her embroidery business. With the loan, she will buy embroidery materials such as beads, colored thread and sketches in bulk to prepare beautiful embroidered dresses to sell to different cloth shops for larger profits. She hopes that an investment will increase the profit from her business.
She is a regular loan user of Asasah and this is her 2nd loan application. In the previous loan year, she established a good credit record and never missed any meeting.
Perveen lives in a small city in Pakistan called Kot Radha Kishen in a 3-room brick house. This town is located in Punjab, Pakistan and is known for its agriculture industry.
Note: In the photo, the lady with a book (called Asasah Passbook) is Perveen.
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