Anwar Akmal Masih Group
Anwar baji embroiders dresses and sells them in the clothing market. She has successfully repaid her three previous loans from Asasah, a microfinance institute in Pakistan. Now she is applying for a loan to buy iron to expand her husband’s business so that her husband will be able to make more iron rods and expand his business.
She is joined in her loan group by three more members. Zarqa baji and Asia baji each want a loan to buy leather to resell. Shahnaz baji wants a loan to buy a buffalo for her milk business.
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