She has two sons. Both of them are young and continuing their education.
She has requested a loan from Kiva partner Asasah for her husband’s grocery selling business. With the loan investment, her husband will put a larger stock of grocery items in his shop that will help him complete the client orders and fulfill their demand.
He is very experienced in his work and has been operating his business for many years.
Rani is confident that he will successfully be able to improve his business after investing the loan.
Note: In the photo, the lady raising her hand is Rani.
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.
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Success!! The loan was 100% repaid