She herself is a housewife and manages her household responsibilities by staying at home. She has applied for a loan from Kiva partner Asasah for her youngest son who wants to buy a new donkey cart for his business because his current cart has rotted in different areas and doesn’t allow him to load heavy items on it. By purchasing a new cart, he will be able to provide better quality loading services to his customers and increase his profits.
Khursheed is confident that after the loan investment, his business will become more profitable.
Note: In the photo, the lady holding a book (called an Asasah Passbook) is Khursheed.
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