Her husband operates a barber shop in the market. He is an expert in cutting hair. He also offers beauty treatments to his customers from his barber shop.
Nasreen has given birth to 3 sons and a daughter. Her eldest son also operates a barber shop while her daughter stays at home and helps Nasreen with her household tasks.
Nasreen has applied for a loan from KIVA partner Asasah for her husband's business. He wants to buy scissors, shaving gel and beauty products to improve his services. Nasreen’s husband is experienced in his business and Nasreen is confident that this loan will be beneficial for him.
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