Nursrat Parveen M.rafiq Group
Her husband is a butcher who runs a butcher shop in the community. He sells goat meat, specifically. People used to come to him to buy meat. Nusrat baji herself has a cloth-selling business. She buys clothes from big “Orega and Shahalmi” cloth markets in Lahore and sells them in Kasur. She has been in this business for the past 8 years.
Nursrat baji has successfully repaid her first loan from Asasah, a microfinance institute in Pakistan. Now she is applying for a loan to buy more goats to expand her husband’s meat business.
She is joined in her loan group by two more members. Razia baji wants a loan to buy used vehicle wheels to resell. Fazilat baji wants a loan to buy meat 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.
Note: "Baji," which means "older sister," is a term of respect for women in Pakistan.
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