Her husband works in a factory. His income is not enough for the whole family that’s why Nasreen decided to support him financially with her sewing business.
She has applied for a loan from Kiva partner Asasah to improve her business sewing clothes. With the loan, she will buy an electric sewing machine that will allow her to finish her orders quicker and earn better profits. She is very much experienced in her work and has been operating her business for the last three years. She is confident that an investment will bring even better profits to her and help her family to live a better financial life.
She is a regular loan user of Asasah and this is her 2nd loan application. She is very responsible client and has established a good credit behavior in the previous loan year.
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