Shahnaz Akhtar Mazhar Hussain Group
Shahnaz baji is a very hard-working lady. She sews clothes for the sake of sharing the financial burden of her husband because his income is very small. From the amount she makes, she pays the school fees of her children and relieves her husband of these expenses. Shahnaz baji successfully repaid two loans from Asasah (a micro-finance institute oin Pakistan). Now she is applying again for a loan to buy thread for her husband’s thread-selling business.
She is the group leader for some more women from her locality. Kishwar Sultana baji and Kosar Parveen baji each want a loan to buy a sewing machine for sewing clothes. Parveen Akhtar baji wants a loan to buy material (colored thread and sketches) for her carpet-weaving business. Lal baji wants a loan to buy cosmetics to sell.
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