Noreen has applied for a loan from Kiva's partner, Asasah, to improve her sewing business. With the loan, she will buy a new sewing machine that will help her complete her work in less time and produce good quality clothes. She has been in her business for the past eight years and is very confident that an investment will be productive for her business and take her business to a more profitable position.
Noreen lives in Khanewal, which is a small city in Punjab, Pakistan, known for its agricultural industry. She has been living in the Marzipura area in a two-room brick house with her family for the past 20 years. In the photo, the lady with a book (an Asasah passbook) is Noreen.
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