She has applied for a loan from Kiva partner Asasah for her son, who is a rickshaw driver and wants to buy a new rickshaw body for his rickshaw. This will allow him to offer better transport services to his passengers and increase his income. He has been operating his business for many years and Shameem is confident that her son will get more success in his business after investing the loan.
Note: In the photo, the lady holding a book (called Asasah Passbook) is Shameem.
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