Naseem is the mother of two daughters. Both of them are young and haven’t started their education. She is also a very good mother and a wife, taking care of her family by fulfilling their needs.
She has applied for a loan from Kiva partner Asasah for the further expansion of her husband's shoe-making business. With the loan, he will buy material such as leather and nails and a shoe polisher for making shoes in larger quantities to earn maximum profits.
He has been operating his business for the past nine years and is very confident that an investment will help him make his family’s financial life easier.
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