Asia has applied for a loan from Kiva partner Asasah to further improve her husband’s vegetable-selling business. Using the loan, he will buy fresh seasonal vegetables to sell to his customers. He has been operating this business for the past five years and Asia is hopeful that through the loan investment, her husband will successfully be able to increase his sales and profits. She is a new loan user and hopes that it will bring good profits to her husband as a result.
She belongs to a city called Pakpattan which is a small city in Punjab, Pakistan, known for its agriculture. She owns a two-room brick house there and has been living in it with her family for the past 15 years.
Note: In the photo, the lady raising her hand is Asia.
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