Rashida Begum Hassan Raza Group
Her husband's name is H. R., and he is a driver by profession. He drives an auto-rickshaw (a local three-wheeled motor vehicle), and has 5 years of experience in this business. Rashida Baji has no children. She spends her time sewing clothes. This activity enables her to earn 1500 Pak Rupees per month.
She is applying for a loan to change the body of her husband’s auto-rickshaw.
Rashida Baji is a group leader of a few more members of her community. Zareena Baji wants a loan to buy clothes for her clothes selling business. Sugran Baji and Razia Parveen Baji each want a loan to buy plastic utensils to resell. Kursheeda Baji wants a loan to buy a grinding machine for grinding flour. Qureshan Baji wants a loan to buy tools for her motor workshop.
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.
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