Perveen is also a very good housewife. She stays at home and performs her household duties.
She has given birth to two sons and three daughters. Her eldest son supplies soda water to different shops while her other children are continuing their education.
She has applied for a loan from Kiva partner Asasah for her husband’s business. With the loan investment, he will buy bottles and ingredients used in making soda water in larger quantity.
This will help him expand his business and increase his profits. He has been operating his business for many years and Perveen is very hopeful about the positive growth of his business after investing 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