Nusrat is a housewife, and she performs her household duties by staying at home. She is a very efficient lady who takes care of her family very well. Her husband is a carpenter who makes wooden doors. He is known among his customers as an expert in his work, and he receives a good number of orders every month.
Nusrat has applied for a loan from KIVA partner Asasah for her husband, who has a large order to fill. With the loan investment, he will purchase wood in larger quantities, which will allow him to make larger and better quality wooden doors to fill the order and increase his profits. He is very experienced and has been operating his business for many years.
Nusrat is hopeful that an investment will help her husband to make his business more profitable in the near future.
Note: In the photo, the lady holding a book (called the Asasah Passbook) is Nusrat.
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