Shahnaz is a housewife and she stays at home to manage the household responsibilities. She is very efficient and tries to provide comfort to her family by cooking food for them and by managing her household work and expenses in an efficient manner. She has applied for a loan for her husband from KIVA partner Asasah. With this loan, he will buy tools that will allow him to offer higher quality auto repair services to his customers and increase his income. He is very experienced in his work and Shahnaz is hopeful that this investment in his business will be a productive one for him.
Note: In the photo, the lady holding a book titled "Asasah Passbook" is Shahnaz.
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