Hajra has applied for a loan from KIVA partner Asasah for her son’s water tank selling business. These tanks are used by people to store water at their homes. With the loan investment he will buy water tanks to resell at a profit. He is an experienced person in his business and has been operating it for the past many years. Hajra is confident that the loan will help him making his business more profitable.
She is a housewife, remaining at home and doing her household responsibilities. She has two other sons. One of them works in a factory while the youngest one is studying.
Hajra is very hard-working lady and has raised her children with great care. She is confident about her son’s business success as a result of loan investment.
Note: In the photo, the lady raising her hand is Hajra.
More information about this loan
Asasah offers products that are customized for its Muslim clients. This Murabaha loan is structured as an interest free loan. Asasah purchases goods for its borrower and charges them a markup or fee. 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.