Nasreen is a housewife and also supports her husband in his livestock business by taking care of cattle.
She has applied for a loan from Kiva partner Asasah for further expansion of her husband’s business. With the loan investment, he will buy a buffalo for selling for profit. He will also sell its milk to earn extra income. He has been operating his business for many years and this is his family business. Nasreen is confident that his business will be improved further after investing the loan.
Note: In the photo, the lady holding a book called Asasah Passbook is Nasreen.
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