Kalsoom Younas Farooq Group
Kalsoom is a housewife who works in the home. She has applied for a loan from Kiva partner Asasah to help her husband expand his barber shop business. With the loan, he will buy necessary items such as scissors, hair shampoo, and hair gels to offer better services to his customers. Kalsoom is hopeful that her husband, who started this business 5 years ago, will be able to improve his business with the help of this loan.
Kalsoom is a regular loan user of Asasah and this is her fifth loan application. She has maintained a good credit repayment history and never misses meetings. In this photo, Kalsoom is seen holding her passbook, the Asasah Passbook.
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