She and her husband have owned a fast food business for five years, which is the only source of income for their family. Now for the further growth of their business, Najma, as a member of an eight-person lending group, has requested a loan from Kiva partner BRAC Pakistan to purchase some crockery and chairs for her fast food business.
As their family expenditures are much higher as compared to their monthly income and savings, she wants to open a new shop for her husband with the profit amount. As a result, they can increase their monthly income as well as savings. Her dreams are for the higher education of her children. And she is very much thankful to Kiva for such a great help and kindness.
More information about this loan
BRAC Pakistan focuses its work in some of the most underdeveloped parts of Pakistan, characterized by poor infrastructure and high levels of poverty. By supporting this loan, you are enabling access to finance for borrowers living in some of Pakistan's poorest areas.
About BRAC PakistanBRAC Pakistan is a subsidiary of BRAC, one of the world’s largest development organizations with a focus on microfinance and economic empowerment. It offers micro-loans designed to help small businesses, very poor clients and others, in addition to health and education services. Kiva’s flexible, zero-interest capital will enable BRAC to expand its outreach in underserved regions and to women who have had no access to microfinance services.
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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