With the loan investment he will buy scrap in bulk quantity, which will allow him to fulfill larger orders on time and increase his profits.
Riaz is a housewife, remains at home and does her household responsibilities. She is very efficient and tries her best to give comfort to her family. She has given birth to five children. She is only able to provide education to two of them while remaining at home.
She is confident about her family’s future and the growth of her husband’s business after investing this loan.
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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