She has applied for a loan from Kiva partner Asasah because her son wants to improve his mobile phone selling business. He has a shop in the market where he sells new and used mobile phones and mobile phone accessories. Through his shop, he offers mobile phones in different price ranges, which helps him target every kind of client. With the loan, he will buy mobile phones and mobile accessories to put in his shop to sell and earn good profits. He has been doing this business for the past six years and Shahnaz is hopeful that a loan will help him do his business better. She is a new loan applicant and this is her first loan application to Asasah.
Shahnaz lives in Kasur, which is a small city in Punjab, Pakistan known for its leather industry. She has been living there in a small two-room home in the area of Pakka Qilah for the past 10 years.
Note: In the photo, the lady with a book (called Asasah Passbook) is Shahnaz.
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