Nasreen has applied for a loan from Kiva partner Asasah for the improvement of her husband’s business. He is a painter and paints houses and buildings on order. He deals with different companies and individuals and earns good income after completing their work. Using the loan, he will buy different colors of paint and paint brushes to provide better quality service to his clients.
Nasreen is hopeful that her husband will successfully be able to grow his business to a level where his family can have a better standard of living. She is a regular loan user of Asasah and this is her 2nd loan application. In the previous loan year, she proved herself to be a responsible client by paying her installments on time and by attending every meeting.
Note: In the photo, the lady with her hand raised is Nasreen”
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