Nasreen is the mother of two sons and a daughter. Both of her sons are enrolled in a local school and getting their education. She has applied for a loan from Kiva partner Asasah for her husband. With the loan, he will buy construction supplies such as cement, bricks and sand in bulk which will help him fill larger orders on time and earn better income.
Nasreen is hopeful that her husband’s business will grow by purchasing construction supplies in bulk quantity and it will result in better living standards for her family.
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 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