Ghulam fatima has applied for a loan from Kiva partner Asasah for the further expansion of her clothes-selling business. With the loan, she will buy clothes in bulk quantity, which will allow her to offer better variety to her clients and increase her chances of sales and profits. She started her business to financially support her husband whose income was not enough to meet the financial expenses of the family. Ghulam fatima is the mother of four children. Her eldest daughter has a business selling ready-made garments and her second child is a school teacher. Both of her sons are doing different kinds of work to financially contribute to the family. Besides her work, she also carries out her responsibilities of a housewife very well. She has been operating her business for the past three years and is very confident that an investment will help her make her family’s financial life better.
Note: In the photo, the lady raising her hand is Ghulam fatima.
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.