Shazia is very supportive and knows that alone her husband is unable to meet the financial requirements of his family. That’s why she sews clothes for her neighboring customers. She is very skillful and earns a reasonably good income from her business. She has applied for a loan from Kiva partner Asasah for the expansion of her husband’s welding business. With the loan, he will buy a welding machine that will allow him to provide better quality services to his customers and earn more profits. He is experienced in his work and has been operating his business for the past 30 years. Shazia is hopeful that a loan will bring more profits to him and improve her family’s financial conditions. She is a regular loan user of Asasah and this is her second loan application. In the previous loan year, she established good credit behavior and never missed any meeting.
Note: In the photo, the lady raising her hand is Shazia.
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