Naseem herself is also a working lady and sells clothes to her community clients and to different clothes shop at a profit. She also knows the art of sewing and makes beautiful-looking clothes on order.
She has applied for a loan from KIVA partner Asasah for her clothes selling business. With the loan investment, she will buy clothes at wholesale prices for selling.
She is an experienced business lady and knows the latest trends in clothing. She is confident about her success in business after investing the loan.
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