HusanAra is a 48-year-old housewife who lives in Lahore, Pakistan and is the mother of six children. Her husband owns a fruit shop in a local market which is the only source of income for the family. He sells apples, bananas, oranges, but would like to offer a greater variety of items to his customers because this will help him increase his net income and savings. But due to a lack of money he finds doing this difficult. Therefore his wife HusanAra, who leads a two-person loan group, is requesting a loan from Kiva's partner BRAC Pakistan to help her husband buy a variety of fruits from local growers and sell them in the market at profitable price. With the profit he earns, her husband wants to grow his business in the future. HusanAra is very thankful to Kiva and BRAC Pakistan for their support.
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 Pakistan
BRAC 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.