Bashraan has applied for a loan from Kiva partner Asasah for her elder son who wants to improve his breakfast stall business. Thanks to the loan, he will purchase required ingredients such as spices, cooking oil, chick peas, etc. so that he can serve many more customers and enhance his monthly profits. He has been operating this business for the past 5 years and Bashraan is confident that he will successfully be able to improve his business after the loan investment.
She belongs to Pakpattan which is a small city in Pakistan, known for its agriculture. She has been living there in a 2-room brick house with her family for the past 20 years. She is a regular loan user of Asasah and this is her 2nd loan application. In the previous loan year, she has proved herself to be a responsible client by paying her installments on time and attending every meeting.
Note: In the photo, the lady raising her hand is Bashraan.
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