Zehar Batool M. Aslam Pervaiz Group
Zehar baji is the mother of six kids: four daughters and two sons. All of her kids are getting an education from a local school near their house. Zehar baji herself is involved in making decorative pieces. She makes wooden pieces with writing on them: various Holy names, e.g., “Allah and Muhammad”. Her art is very famous in her community and outside of the community as well. She successfully repaid her first loan from Asasah (a micro-finance institute in Pakistan). Now she is applying for a loan to buy more wooden sticks to expand her decorative pieces business.
She is the group leader for some more women frpm her locality. Parveen Akhtar baji wants a loan to buy bicycles to re-sell. Faizan baji wants a loan to buy wires and switch boards for her electric items business. Majidan baji wants a loan to buy groceries for her grocery shop. Shaheen baji wants a loan to buy medicines for her medical store.
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