Her husband is a rickshaw driver and provides transport services to his passengers. He also picks up school children from their homes and drops them at school. Due to his good nature and driving skills, the parents of school children send their children with them without any worries.
Nasreen is the mother of two sons and three daughters. Her eldest son is also a rickshaw driver while two of her remaining children are studying. She has applied for a loan from KIVA partner Asasah for her husband who wants to pay the remaining installments for his auto-rickshaw.
By paying the installments at once, the auto-rickshaw will become his property and he will be able to operate his business worry free.
Nasreen is hopeful that her husband’s income will improve and her family will be able to have a better standard of living.
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