Her husband deals with construction supplies. He provides construction supplies such as cement, bricks and sands to his customers at reasonable rates and generates income for the family.
Raeesa herself is a beautician as well as running a boutique business. She provides her services to her female clients. She operates her businesses from her home and is known as an expert in her fields. Her clientele base is her community women. They prefer to approach her to buy dresses and for getting beauty services.
She has applied for a loan from Kiva partner Asasah for the further expansion of both her businesses. With the loan, she will buy beauty products (creams, masks) and makeup items (lipsticks, mascara, eye shadow) etc. and clothes and thread to be able to provide better services to her clients and increase her profit.
She is confident that her businesses will grow further after the loan investment.
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