Nusrat is very supportive and does sewing and embroidery for her neighborhood clients to financially help her husband. She is very skillful in her work and can produce quality work which helps attract many customers to her. She has applied for a loan from Kiva partner Asasah for the expansion of her husband’s business of selling groceries. With the loan, her husband will buy groceries such as cooking oil, soap, spices, etc. in bulk which will help him fulfill the demand of his customers and make extra profits.
He started this business 15 years ago and Nusrat is very hopeful that an investment will bring more profits to her family and help in improving its living standard. She is a regular loan user of Asasah and this is her 3rd loan application. In previous loan years, she has maintained a good credit behavior and never missed any meeting.
Note: In the photo, the lady with a book (called Asasah Passbook) is Nusrat.
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