Nasim has given birth to 2 sons. Her elder son operates a thread-selling business while the younger one stays at home. He is 18 years old and illiterate. Nasim couldn’t provide education for her children due to poor financial conditions.
She has applied for a loan from Kiva partner Asasah for her elder son’s business. With the loan, he will buy thread in bulk quantity to improve his sales. Nasim is hopeful that an investment will help her son to improve his business on a large scale and increase his income as well.
She is a regular loan user of Asasah and this is her 6th loan application. In previous loan years, she has maintained a good credit history and attended every 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