Nusrat spends most of her time staying at home and doing her household responsibilities. She has applied for a loan from Kiva partner Asasah for the improvement of her husband’s business. Through the loan, he will buy sheep and goats that will help him in expanding his business, by selling more animals to butchers on profit. Nusrat is confident that an investment will be profitable for her husband and will help him to provide better facilities for his family.
Nusrat is a regular loan user of Asasah and this is her 2nd loan application. In the previous loan year, she has proven herself as a responsible client who paid her installments on time and never missed a single meeting.
Note: “In the photo, the lady with a book (called Asasah Passbook) is Nusrat”.
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