Yasmeen herself is also a very hardworking lady. She is involved in a sewing business, and her work is home-based. She collects orders from neighboring customers and earns well by completing them on time. She has been operating her business for more than 4 years. She also provides embroidery services to her customers. She crafts beautiful embroidery designs on clothes, which helps her attract many more customers.
Yasmeen will use the loan to purchase a sewing machine because with her current machine it takes a lot of time to sew a single dress. She will also use the loan to purchase embroidery materials such as beads, colored thread, and sketches for the further improvement of her sewing & embroidery business. She is very hopeful about her business growth after this loan investment.
More information about this loan
Asasah offers products that are customized for its Muslim clients. This Qard Hassan product loan. also referred to as Qarz-e-Hasna (Al-Madad) in the Urdu language, is an interest free loan, usually offered to students or the very poor. For more information on Islamic microfinance, please click here.
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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