Her husband works in a private company. His income is not enough to cover the basic needs of the family that’s why, a few years ago, Rehana started sewing clothes for her neighboring clients. She learnt this art from her mother and has become an expert after considerable practice. She is a very responsible person. As a mother she is also taking care of her family very well.
She has applied for a loan from Kiva partner Asasah for her sewing business. With the loan, she will buy a new sewing machine because her old machine doesn’t produce quality work and takes a lot of time to sew a single dress. The new machine will help her complete orders on time and make more profit. She hopes that the investment will bring positive changes to her business and improve her financial position. She is a new loan applicant and this is her first loan application through Asasah.
Note: In the photo, the lady with a raised hand is Rehana.
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