Fareeha Naz's Group
Fareeha supports her husband financially by sewing clothes. She is very skillful and receives regular orders every month. She has given birth to a son and 3 daughters. All of them are studying except the youngest daughter who is only 3 years old.
Fareeha has applied for a loan from Kiva partner Asasah for the further expansion of her husband’s business. With the loan, he will buy groceries in bulk that will allow him to fulfill his client orders on time and earn extra income. He has been operating his business for many years and Fareeha is confident that an investment will bring more profits to her family and improve its living standard.
Note: In the photo, the lady holding a book (called Asasah Passbook) is Fareeha Naz.
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