With the loan he will buy scissors, shaving creams, and hair products such as shampoos to improve the quality of his services and increase his income. He has a vast experience in his field of work, and Kalsoom is very confident that an investment will help him make more profits from his business.
Kalsoom is the mother of five children: one of them works while the others are getting their education by attending the local school.
She is a new loan applicant of Asasah.
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