Ghulam Fatima's Group
She has applied for a loan from Kiva partner Asasah to improve her husband’s business. With the loan, he will buy iron and make iron rods to fulfill larger orders on time and increase his profits. Ghulam Fatima hopes that an investment will take her husband’s business to a more profitable position and her family will be able to enjoy more financial benefits. She is a regular loan user of Asasah and this is her third loan application. With previous loans, she maintained good credit behavior and never missed any meeting.
Note: In the photo, the lady with a book (called Asasah Passbook) is Ghulam Fatima.
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