Naseem Bibi's Group
Her husband is involved in the sofa making business. He makes sofas on order and earns income for the family. He has been in this business for many years. His experience in his field helps him get good orders from his clients.
Naseem has applied for a loan from Kiva partner Asasah for the further expansion of her husband’s business. With the loan, he will buy foam, thread & cloth in bulk to be able to fulfill orders on time and earn maximum profits. She is hopeful that an investment will prove beneficial for her husband.
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