Bushra is a 42-year-old woman who came to Lahore after her marriage with M. N., who makes and sells artificial flowers. Artificial flowers are used as a decorative material in decoration pieces and at different functions and parties.
Bushra also helps her husband in his business. She learned this art from him and now she makes equally good quality flowers as her husband.
She is a mother of three sons and two daughters and lives in a three-room brick house. Bushra only managed to send her eldest daughter to school till 5th standard. All of her other children couldn’t get an education due to limited financial resources. Now two out of her three sons work in their own motor workshop, where they repair vehicles.
Bushra has applied for a loan from Asasah for her husband, who wants to make a larger quantity of artificial flowers to increase his income. With the help of a loan, he will buy raw materials in bulk, such as artificial flower petals and the plastic sticks used in the making of flowers.
Bushra is very confident that by making an investment in her family business, their income will be increased and their family’s financial condition will get better. She is in her fourth loan cycle and is a responsible loan user of Asasah. In her previous years of loan experience, she has paid her installments on time and never missed a meeting.
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