Her husband is a professional cook and offers his services at different parties and marriage ceremonies. He cooks food of great taste which his customers like very much.
Shahzad is a seamstress and sews clothes for her neighboring clients. She has great sewing skills and her sewed clothes are in good demand in her community.
She has applied for a loan with KIVA partner Asasah to improve her husband's cooking business.
With the loan investment, he will buy large pots for his business. This will help him making larger quantities of food and increase his profits.
He is an experienced business person and has been operating his business for the past many years.
Shahzad is hopeful that an investment will be more beneficial for him.
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