Perveen has applied for a loan from KIVA partner Asasah for the further expansion of her business. With the loan investment, she will purchase clothes in bulk quantity and of greater variety. That will allow her to fulfill her clients' needs and increase her profits.
Perveen is very experienced and has been operating her business for the past many years. Due to her good nature and professional dealings, she is well-known among her clients and receives regular orders. She is confident that a loan investment will help make her business more profitable.
Note: In the photo, the lady holding a book called Asasah Passbook is Perveen.
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