Nasreen has given birth to two sons and two daughters. Nasreen’s remaining children are enrolled in a local school and getting their education. She has applied for a loan from Kiva partner Asasah for her son who wants to buy another buffalo to improve his dairy business. This will help him sell a larger quantity of milk to different milk shops and earn better profits. Nasreen is hopeful that after investing the loan money in her son’s business, he will be able to earn more income and Nasreen will be in a position to get him married soon.
She is a regular loan user of Asasah and this is her second loan application. In the previous loan year, she established a good credit record 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