Shamim Akhtar's Group
Shamim herself does decorative embroidery work. Her work is home based. She does work for her neighboring areas and earns money after completing the orders. She has requested a loan from Kiva partner Asasah for her son’s business. He will invest the loan in the buying of computer spare parts and repairing tools to provide better services to his customers and thus increasing his income. She is hopeful the loan investment will upgrade her son's business and improve his financial position.
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