Yasmeen is a housewife and working woman who also takes care of her household responsibilities. She operates a sewing business from her home and makes beautiful-looking dresses for her clients. She is married and has seven children. Her husband is daily wage laborer and works very hard to put three meals on the table for his family. Due to financial constraints, Yasmeen is able to provide education to only one of her daughters. Two of her other children work while the rest stay at home. She has applied for a loan from KIVA partner Asasah for her sewing business. She will use this loan to buy a sewing machine so that she can finish orders on time and increase her profits. She has been operating her business for many years and is confident that by buying a new sewing machine, she will be able to earn more profits.
Note: In the photo, the lady holding a book (the Asasah Passbook) is Yasmeen.
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.