Her husband operates a motorbike rental business. He gives bikes to his clients for specific periods of time and charges on a per hour basis.
Naseem is the mother of 3 sons and 2 daughters. Her eldest son is 20 years of age and has a job; the others remain at home.
She has applied for a loan from KIVA partner Asasah because her husband wants to buy another motorbike, that will allow him to provide better motorbike rental services to his customers. This should increase his profits.
He has operated his business for 2 years and Naseem is very confident that a loan will help him establish in his business.
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