Akhtar Baqir Ali Group
Akhtar’s husband has had a dairy business for five years. He sells milk to shops and earns a profit. Akhtar and her husband get up at 4:00 a.m. to get milk from the buffalo. Then they pour the milk into pots. Akhtar successfully repaid four loans from Asasah (a microfinance institute of Pakistan). Now she is applying for a loan to buy another buffalo for her milk selling business.
Akhtar is the group leader. Two other women are involved locally. Shafqat Nawaz wants a loan to buy cosmetics to sell. Majidan A. wants a loan to buy clothes for her cloth selling business.
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