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 better variety of thread and cloth. This will help him prepare better quality sofa covers and increase his sales and profits.
He is a veteran in this business and has been operating it for many years. Naseem is hopeful that the loan investment will help him earn more profits from his business and she will be able to send her remaining children to school.
Note: In the photo, the lady raising her hand is Naseem.
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.
236View loans »
Success!! The loan was 100% repaid