Nusrat has three sons and two daughters. Her sons have left their education and started doing different kind of works to financially contribute to the family and her daughters are studying in a local school.
Nusrat is also a very good housewife and performs her household duties very well. She has applied for a loan from Kiva partner Asasah for her eldest son who is involved in making wooden ladders. With the loan, he will buy wood, nails etc in larger quantity to make ladders in larger quantity to sell to his customers and increase his profits. He has good experience in his work and has been operating it for the past five years. Nusrat is hopeful that an investment will help him grow his business further and increase his monthly income.
She is a regular loan user of Asasah and this is her second loan application. She has established a good credit record in her previous loan and never missed any meeting.
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