Naseem Bibi's Group
She is a widow and lives with her children. She is a very caring mother and has worked very hard to raise her children after the sudden death of her husband.
She has applied for a loan from Kiva partner Asasah for her son who has a business making sofa covers. With the loan, he will buy cloth, foam and thread to make better quality sofa covers.
He has been operating his business for many years and Naseem is very confident that, after investment, he will be able to grow his business and increase his profits.
Note: “In the photo, the lady raising her hand is Naseem bibi”.
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