Naseem has applied for a loan from Kiva partner Asasah for her husband’s businesses. With the loan, her husband will buy wood and nails and also used paper and plastic bottles for both his businesses so that he earns well from them and generates the maximum profit.
Naseem hopes that her husband’s hard work and the loan investment will bring positive financial changes to his businesses and her family will be able to enjoy a better living standard as a result.
Note: In the photo, the lady with a book (called Asasah Passbook) is Naseem.
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