Abida is a 38 year-old married woman. She is the mother of five children. She adores her family and her husband works very hard so that his family can have a good and respectable life. Eight years ago, her husband started his own business selling welding material.
Abida, as a member of a two person lending group, is requesting a loan from Kiva's partner BRAC Pakistan for her husband. He will use the loan amount to increase his supply of welding products including iron rods, iron sheets, soldering rods, welding rods, etc. so that he can respond quickly to customer needs. He plans to expand his business with the additional income he earns. Abida hopes that the loan will be helpful for her husband's business. She is thankful to Kiva and BRAC Pakistan.
About Fundación Paraguaya
Fundación Paraguaya is a financially self-sustaining social enterprise that promotes entrepreneurship in urban and rural areas through microfinance, education programs, and more. Its focus on agriculture has helped many farmers boost their crop yields. And a number of other borrowers have taken out loans to start and grow social businesses that have helped deliver eyeglasses, medicines and other helpful services in their local communities.
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.