Riffat is a seamstress. She sews clothes for her neighboring clients. She is very skillful and receives a good number of orders every month. She knows about the latest fashion trends and her clients pay her good money for her work.
Riffat has a 19-year-old son who lives at home. Riffat couldn’t provide him an education due to financial constraints.
Note: In the photo, the lady holding a book called Asasah Passbook is Riffat.
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