Now her children are young men and do their business. She has two sons and both have a shop of automobile spare parts. They have a shop in the market where they deal with their customers and fill their need for spare parts. Anayat now stays at home and takes care of her household responsibilities and of her sons.
She has applied for a loan from Kiva partner Asasah for her sons' business. They will invest the loan in purchasing spare parts for different vehicles. The availability of stock will help them to fulfill the requirements of their customers in a timely manner which will result in good earnings. They started this business a few years ago and Anayat is hopeful that her sons will successfully be able to improve their business with the help of this loan investment.
She is a regular loan user of Asasah and this is her 3rd loan application. In previous loan years, she has maintained her good credit behavior and attended every meeting.
Note: In the photo, the lady who holds a book (called Asasah Passbook) in her hands is Anayat.
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