Parveen akhtar is a 37-year-old married woman involved in a sewing and embroidery business. Her work is home based. She receives orders from neighboring areas and is paid after she fulfills the orders on time. She is an expert in her work. Her clients are satisfied and give her regular orders.
She is a mother of four children: two sons and two daughters. Her youngest son has a laundry business and financially supports the family. Parveen’s husband has a private job and is paid monthly.
Parveen has requested a loan from Kiva partner Asasah for her business. She will use the loan to buy an embroidery machine so she will be able to receive more embroidery orders and increase her earnings. She is hopeful this investment will improve her 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.