Naseem is a very supportive lady by nature. She does sewing work for her community members. She learnt this art from her mother and is now taking advantage of her skills to earn money for her family. She has given birth to three children. Her eldest son is studying while others are not of school-going age yet.
She has applied for a loan from Kiva partner Asasah for her husband who will utilize the loan in buying fresh seasonal vegetables to sell in his shop. He has been operating this business for the past five years and Naseem is confident that after this investment, his income will increase and her family will be able to enjoy better financial conditions.
She is a regular loan user of Asasah and this is her 3rd loan application. In previous loan years, she has maintained a good credit record by paying her installments on time and by attending every recovery meeting.
Note: In the photo, the lady with a book (called Asasah Passbook) is Naseem.
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