Shahnaz baji successfully repaid her first loan from Asasah, a microfinance institute in Pakistan. Now she is applying for a loan to buy groceries (lentils,rice,sugar) for her grocery shop. Shahnaz baji wishes to diversify her grocery shop into a general store.
She is joined in her loan group by a four more members. Shazia baji wants a loan to buy a donkey cart. Ghulam Fatima baji wants a loan to repair an auto-rickshaw (a local three-wheeled vehicle). Nasreen baji wants a loan to buy a buffalo to produce milk to sell. Suraiya baji wants a loan to buy more cloth to resell.
This is a group loan. The loan funds will be distributed among the group members, each of whom will invest in her own business. The members mutually guarantee one another's loans. If one member does not repay, the other members are responsible.
*"Baji," which literally means "older sister," is a term of respect for women in Pakistan.
This is a Group Loan
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Success!! The loan was 100% repaid