Azmat M. Ali Group
Azmat baji is a wife of M. A. and lives in a city named Borewala in Pakistan. She owes a two-room brick house that she has been living in for the past forty years. She is the mother of seven children: five sons and two daughters. Her first three sons are auto-rickshaw (a local three-wheeled motor vehicle) drivers. Her youngest son is in 5th standard. Her elder daughter is eleven years old and her younger daughter is two years old.
Azmat baji’s husband is a daily wage laborer. Azmat baji helps him meet the house expenses so they don’t feel so much burden. She sews clothes and prepares embroidered dresses. She has successfully repaid her two loans from Asasah (a microfinance institute of Pakistan). Now she is applying for a loan to start a new business of snooker games for her husband because it’s a high demand game for children.
She is joined in her loan group by a few more members. Afshan hussain baji and Naziran begum baji each want a loan to buy a buffalo for their milk-selling business. Safia begum baji wants a loan to buy wood to resell. Naseem Akhtar baji wants a loan to buy cigarettes to resell. 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.
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