Majeeda Bibi's Group
She owns and operates a sewing business at her home. She does this work to supplement the income of her family. Her client base is her community members who prefer taking her services due to the quality of her work and reasonable rates.
Besides her sewing, she also gives proper time to her household work and fulfills the requirements of her family.
Her husband is a very hardworking person by nature. He operates his fruit selling business in the market and generates income for the family.
He is very ambitious and wants to grow his business.
That is why Majeeda has applied for a loan with Kiva partner Asasah for her husband’s business. With the loan, her husband will buy fresh seasonal fruits in larger quantity to increase his sales and 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