Naseem Begum's Group
Naseem Begum is a seamstress. Her work is home-based. She receives regular orders every month from her clients and earns an income. She does this work to supplement the income for her family.
Her husband is a government employee and receives a monthly wage.
Naseem has requested a loan from Kiva partner Asasah for her sewing business. She will invest the loan amount in buying a new sewing machine because her old machine doesn’t produce quality work.
Naseem is hopeful that with a new machine, she will be able to fulfill her orders on time and earn good revenue from this.
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