She has applied for a loan from Kiva partner Asasah to help her husband who wants to buy fresh seasonal fruits for the expansion of his business. More variety of fruits will enable him to fulfill the timely demand of his customers and increase his profits. He has been operating this business for the last 15 years. Parveen is hopeful that her husband will be able to improve it further after the loan investment, which will help her family to have a better standard of living.
Note: In the photo, the lady with a book (called Asasah Passbook) is Parveen.
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