Farhat is 42 years old and involved in an animal sales business. She does this work at her home. Presently, she has two cows. She takes care of them by providing timely food & water. Her business gives her good profit which helps her husband financially. Her husband also does the same business. He has a good number of business contacts who prefer buying animals from him because of his good knowledge about animal breeds.
They are parents of five children: two daughters and three sons. Her eldest son is a mason and the next to him is a salesman while her youngest son is studying in 9th standard. Her elder daughter is in 12th standard and also doing a diploma in nursing. Her younger daughter is also studying in 9th standard.
Farhat has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan, he will buy animal food & some goats to be able to earn a good income. He has been operating this business for the past 15 years and Farhat is hopeful that the loan investment will bring better profits to her husband’s business and improve the financial condition of her family as a result.
Note: In the photo, the lady with a book (called Asasah Passbook) is Farhat.
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.