Rashida Bibi's Group
Rashida herself is a caring housewife who manages the household and works by staying at home. She loves to take care of her family. She prepares good and tasty food for her family and makes the utmost effort to provide comfort to them by fulfilling their needs.
Rashida's husband has a food stall in the community where he serves his customers samosas (a Punjabi food item prepares with flour and filled with potatoes, served with sweets and yogurt). His samosas are very famous among his community and he makes good sales every month. Rashida also helps him make samosas for his stall.
She has applied for a loan from Kiva partner Asasah for her husband's business. He will invest the loan in buying ingredients such as potatoes, cooking oil, spices etc. for preparing samosas in larger quantities.
She is very hopeful about her husband's 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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Success!! The loan was 100% repaid