Her husband operates a motorbike spare parts selling business. He offers different brands and types of spare parts, which helps him in capturing a good number of clients every month.
Nagina is the mother of 4 sons, all of them are masons, by profession. She has applied for a loan from KIVA partner Asasah for the further improvement of her husband’s spare parts selling business. With the loan investment, he will buy different types of motorcycle spare parts to attract more clients to his shop and to increase his income. He has been operating his business for many years and Nagina is very much hopeful about his business success after the loan investment.
Note: "In the photo, the lady holding the passbook (called Asasah Passbook) is Nagina."
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