Razia is 46 years old and is married. Her husband operates a lathe machine. He provides iron items and repair services for spare parts to his clients. He is very expert in his work and his clients are very satisfied with his work. Razia operates a clothes business at her home. She purchases clothes at wholesale and sells stitched and unstitched clothes to her clients, according to their demand. She makes good profits from her business every month.
She is the mother of 3 children and all of them are getting their education by attending a nearby school.
She has applied for a loan from Kiva partner, Asasah, for the further expansion of her business. With the loan, she will purchase clothes in bulk quantity. That will allow her to offer more variety of clothes to her clients and will increase her profits.
She has recently started her business and is very hopeful that her business will improve further after the loan investment.
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.