Naseem is a housewife who stays at home and carries out her household responsibilities. She is the mother of a five-year-old son who has not started his education yet. Naseem’s husband has a horse cart, with which he provides loading as well as transport services to his clients. He is a very efficient and hardworking person.
Naseem has applied for a loan from Kiva partner, Asasah, to buy a new cart for her husband because the current one has grown old and needs to be replaced. Her husband has been operating this business for the past 12 years and Naseem is hopeful that after purchasing a new cart her husband will be able to provide better services to his customers and increase his profits.
Note: In the photo, the lady raising her hand is Naseem.
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.