She also sews clothes in her spare time and earns a reasonable amount of income which helps her to pay utility bills. She has given birth to a daughter who is studying in the seventh class.
Her husband wants some money to invest in his business, so Nazia has applied for a loan from KIVA partner Asasah. With the loan investment, he will buy goats and sheep in larger numbers. He will sell the animals for a profit to butchers after growing them.
He is very experienced in his business and Nazia is confident that he will have more success in his business after investing in 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