She has a 17-year-old son who is in the 10th grade.
Her husband operates a sweet meat selling business at the market. The taste of his sweet meat is very good, and he has a good number of clients who purchase sweet meat from him on a regular basis.
Shameem has applied for a loan from Kiva partner Asasah to further expand her husband’s business.
With the loan investment, he will buy ingredients such as sugar, cooking oil, etc. to be able to make a larger quantity of sweet meat and increase his profits.
He has been operating his business for many years, and Shameem is hopeful that the loan will help him earn more profits from his business.
Note: In the photo, the lady is holding a book that is called "Asasah Passbook is Shameem."
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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