Nawaz Sabra's Group
A very talented lady, Nawaz operates a Parandas (an accessory used by women to tie back their hair) making business. The parandas are a very famous ornament of Pakistan. She can make every type of parandas such as of beaded, colorful and simple as well. Her parandas are very famous in her community. She also loves to wear them.
Her husband is a driver and drives a rickshaw, which is a local three-wheeled motor vehicle. He earns 500 PKR from his driving every day. They both use their income to manage their financial expenses and to improve the living standard of their family.
Nawaz is applying for a loan for the second time from Asasah, to invest the capital in her own business so she can purchase materials (beads and threads) in bulk and expand her business.
She hopes to get profit from this loan and wants to introduce her business on larger scale.
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