Fozia Parveen's Group
She owns and operates a home-based embroidery business. She embroiders clothes by order and earns well after completing her orders on time. She is an expert in embroidery and crafts beautiful designs on clothes which help to attract more customers.
Her husband is a professional driver. He drives his own rickshaw and assists his passengers by dropping them off at their destinations.
Fozia has requested a loan from Asasah, a Kiva partner, for her embroidery business. She will use the loan to purchase clothes, beads and colored thread in a larger quantity so that she may acquire larger orders and increase her income.
She is hopeful that as a result of this loan and investment, she will bring positive financial changes to 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.
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Success!! The loan was 100% repaid