Fatime Begum Ramzan Ali Group
Fatima baji is the mother of four kids: two daughters and two sons. All of her children are getting education from a school which is located near to the house. Fatima baji is a very devoted lady. She reduced the financial burden on her husband by making embroidered dresses. Her husband is very happy with her and feels proud. She used her income to pay off the school fees of her children.
She successfully repaid her first loan from Asasah (a microfinance institute of Pakistan). Now she is applying for a loan to buy crockery to expand her husband’s business.
She is the group leader of some more women in her locality. Maqsoodan baji wants a loan to buy material (thread, elastic, cloth) for her band-making business. Naseem baji wants a loan to buy ingredients (lentils, cooking oil and spices) for her food selling business. Khatoon baji and Sakina baji each want a loan to buy thread 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.
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