Parveen Akhtar M.arshad Group
Parveen baji is the mother of three kids: two sons and one daughter. All of her kids are getting an education from a school located near their home. Parveen baji is involved in a clothes-selling business. She buys clothes from famous cities (Multan and Faisalabad) and sells them in her native city. She has been doing this work for the past 10 years. Parveen baji does this work to share the financial burden of her husband and pay the school fees for her kids. She is applying for a loan to buy more clothes to sell.
She is the group leader for some more women from her locality. Irshad baji and Mumtaz begum baji each want a loan to buy fertilizer to sell. Khursheed baji wants a loan to buy cold drinks for her cold drink corner. Sugran baji wants a loan to buy beams for her shuttering business. Kalsoom baji wants a loan to repair her auto-rickshaw.
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