Najma Liaqat Ali's Group
Her husband, L. A., is a driver by trade and drives a rickshaw that he rents. He provides transport facilities and charges according to the distance of the journey. At the end of the day, he has to pay half of his earnings to the rickshaw owner. For this reason he is unable to meet the financial expenses of his family. Therefore, Najma has applied for a loan from Kiva partner, Asasah, for her husband. With the loan, her husband will buy a rickshaw. This will enable him to improve his earnings. By owning his own rickshaw, L. A. will be able to drive it for long hours without the tension of paying rental costs and having to return it at the end of the day.
Note: In the picture, the lady who is raising her hand is Najma.
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