She also likes to do embroidery work. She does embroidery on clothing and gives the clothes a new look. She keeps herself up to date on the latest trends in fashion, which helps her understand her clients’ needs.
Her husband is a painter and paints both walls and buildings on contract. They both contribute to the family financially from their earnings.
Parveen has requested a loan from Kiva partner Asasah for her own business. She will use this loan to buy an embroidery machine. The new machine will enable her complete more orders from her clients in a timely fashion, allowing her to increase her income. She is very confident about the further growth of her embroidery business.
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