Naseem Bibi's Group
Naseem's husband runs a store where he sells basic household products. He has been in this business for over ten years. All his neighbors and friends from his area are customers. He earns a decent income every month from his business.
Naseem is requesting for a loan from Kiva partner Asasah to buy oil, lentils, rice, spices, etc. This will increase her husband's stock and will help him to improve his customer service. Naseem is hopeful that the financial condition of her husband’s business will be improved a lot after the loan investment.
In the photo, the lady holding the book (an Asasah Passbook) is Naseem Bibi.
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