Nasim Akhtar Jeorge Qamar Group
Nasim Baji is the mother of two sons, both of whom are enrolled in kindergarten. She is a highly determined lady, so she keeps herself busy by sewing clothes. She saves her income to be able to admit her son to a good school. Nasim Baji is applying for a loan to buy repairing tools for her husband’s motor workshop.
She is the group leader for some other women from her locality. Irshad Naseem Baji wants a loan to buy an embroidery machine to prepare embroidered dresses to sell. Rehana Kosar Baji wants a loan to buy a sewing machine for sewing clothes. Razia Begum Baji, Alisha Baji, and Kalsoom Baji each want a loan to buy groceries for their grocery shops.
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