Chanda Nosheen's Group
She is divorced and lives with her brother. She doesn’t want to become a burden on her brother. She started sewing clothes for her neighboring clients to afford the living expenses for her children and herself. She is very skillful and receives a good number of orders every month.
Her brother operates a tea stall in the nearby market. Through his stall, he offers tea of different kinds e.g. green, milky and creamy, to his clients. His tea tastes good. That’s why he has a good number of clients who come to his stall regularly.
She has applied for a loan from Kiva partner Asasah to improve her brother’s business. With the loan, he will buy tea, sugar, milk etc. to improve the financial condition of his business. Chanda is confident that an investment in her brother’s business will be a good step towards its growth. She is a new loan applicant and this is her first loan application to Asasah.
Note: In the photo, the lady with a book (called Asasah Passbook) is Chanda nosheen.
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