Zarina M. Ashiq Group
Zarina operates a tailoring business. Her daughter helps her in the cutting of dresses. She has successfully repaid three loans from Asasah (a microfinance institute of Pakistan). Now she is applying for a loan to buy flour for her husband’s bread making business.
The other members of the group will use the loan as follows: Gaman sells milk and will use her portion of the loan to buy a buffalo for her milk business. Sheema and Tanveer each want to buy a buffalo for their animal sales businesses. Sakina will use the loan to buy cosmetics to resell.
This is a group loan. The loan funds will be distributed among the group members, each of whom will invest in their 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