She has applied for a loan from Kiva partner Asasah to boost her husband’s livestock business. He has some livestock at his home. He sells their milk and also sells some to earn a good profit. His livestock base is cows & goats. He sells goats to his customers. Using the loan, he will buy another cow to increase the productivity of milk which will help him sell milk to many other customers to get good profits. He started this business 20 years ago and it is giving him good income every month.
Perveen is confident about the positive financial growth of her husband’s business and about the better financial future of her family as a result of an investment.
She is a regular loan user of Asasah and this is her 3rd loan application. She has maintained a good credit record in every loan year.
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