Nusrat is a housewife and stays at home and does her household responsibilities. She is still very active and performs her household duties very well. Her husband is a tailor master and expert in sewing clothes. He has also hired a worker for his assistance.
Nusrat has applied for a loan from KIVA partner Asasah for her eldest son who is also a tailor and wants to buy a new sewing machine. This will help him complete client orders on-time and increase his profits. Nusrat is hopeful that her son will make good use of the loan money and will be able to expand his business.
Note: In the photo, the lady holding a book called Asasah Passbook is Nusrat.
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