Shakeela is a seamstress, sewing clothes for her neighboring clients. She is very skillful and has a lot of interest in sewing. She works 4-5 hours a day to complete the orders of her clients. She is a very good housewife and performs her household duties very well. Her husband is also a tailor and operates his shop in the market.
Shakeela has given birth to two daughters and two sons. All of them are getting their education by attending a nearby school. She has applied for a loan from KIVA partner Asasah for her business. With the loan investment she will buy a new sewing machine that will allow her to complete the client orders in less period of time and increase her profits.
Note: In the photo, the lady raising her hand is Shakeela.
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.