Total loan: $6,000
, , Iraq / Food
Rasol's Group's loan finished fundraising,
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A loan helped to buy a small vehicle to transport his goods to his customers.
Rasol's Group's story
Rasol is a 25 years old and a hard-working, ambitious Iraqi man. In line with cultural and traditional practices, as a yet-unmarried man he is living with his family. To generate some income and participate in meeting the financial needs of his family, he is working hard as a vegetable and fruit salesman. He started his little shop two years ago. A typical way to sell fruits and vegetables in his area is by driving around in the neighborhood, selling his goods on the street, near the homes of his customers. Every morning the streets of neighborhoods are noisy from the horns of such moving stalls, as women shop for the daily fresh goods for that day’s lunch and dinner. Rasol would like to buy a small vehicle, a 3-wheeled motorcycle with a platform on the back, typical for delivering and selling vegetables so he can participate in this mode of selling and increase his sales by going into the areas where customers are ready to buy. To be able to make the purchase he is taking a group loan from Relief International Microfinance Iraq. Relief International - Microfinance Iraq offers "Group loans" for clients unable to provide a guarantor - thereby unable to apply for a loan as an individual. As a group, the members collectively guarantee the loan. Groups consist of three to five clients, and each client is evaluated on his or her repayment capacity. All group members receive the same loan amount as the individual with the lowest repayment capacity in the group. As all the members of this group are under the age of 30 - with ages 25, 28, and 18 - the group qualifies for a "youth loan."