Gulzar is a 42-year-old illiterate, married lady. Her husband is a contractor and builds houses and buildings on contract. She is an embroidery expert and does decorative embroidery for her neighborhood clients on order. She also carries out her responsibilities as a housewife very well. She is the mother of two sons. The eldest one has the skills of an electrician but he doesn’t do it as a profession. He is interested in the driving profession. Her youngest one is a driver.
She has applied for a loan from Kiva partner Asasah for her eldest son who will buy a rickshaw to fulfill his interest and start a driving business. Through the rickshaw, he will be able to provide transport services to the passengers and become the earning resource for the family. Gulzar is very confident about her son’s hard-working nature and she is very sure that an investment will help him make good profits from his business.
She is a new loan user of Asasah and this is her first loan application.
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.