Naseem Akhtar's Group
Naseem is involved in the beauty salon business. She operates her business at her home. She recently started her business two years ago. She is now running it with her eldest daughter’s support. Her daughter helps her in taking care of the customers and fulfills their work.
After the death of her husband, Naseem and her family worked really hard to live a sustainable life. Naseem herself feels blissful to have a very supportive family.
She has applied for a loan from Kiva partner, Asasah, for her beauty salon business. She will invest the loan in buying beauty products and makeup items for the further growth of her beauty salon’s business.
She is hopeful that her salon will become a renowned salon and her clients will become her regular clients.
Note: In the photo, one of her group’s members has a clothes sales business. That’s why they are holding clothes.
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