From the past 4 years she has been running her own beauty salon, which is the only source of income for the family. She faced a very difficult time after the death of her husband, but she still worked to provide for the family needs. She works 6 hours a day. In spite of working full time, she takes care of all the housework and makes sure that she can fulfill all of her children's needs. All of the income from her business goes to the household expenses; because of this, she is unable to save anything for her children’s future.
Currently, the stock of her beauty salon is low, and she wants to purchase makeup kits, facial creams, hair colors and other cosmetic products. However, due to financial constraints, she is facing some problems with purchasing the needed items.
Therefore, Farah as a member of this 6-person lending group, has requested a loan from Kiva's partner BRAC Pakistan to continue her beauty salon.
Farah hopes that the loan will be beneficial to them.
Note: In the picture Farah holds a passbook in her hand.
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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Success!! The loan was 100% repaid