Her husband is a mason by profession and constructs houses and buildings on order. He is 60 years old and has been doing his business since his teens.
Hanifaan is the mother of three sons and two daughters. Due to financial constraints, she couldn’t educate her children. Her sons work while her daughters stay at home and help Hanifaan in her daily routine tasks.
She has applied for a loan for her eldest son who is a mason. With the loan investment, he will buy masonry tools to provide better quality masonry services to his clients and increase his income.
He has been operating his business for the past many years, and Hanifaan is hopeful that an investment will help him earn better profits.
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