Asma Muhammad Altaf's Group
Asma helps her husband financially by doing embroidery. Embroidery is a very common business in Multan and most of the ladies do it from their homes. She receives orders from her neighborhood clients and finishes the orders on time to earn an income. She has a son and a daughter. Both are very young and not yet of school-going age.
Asma has applied for a loan from Kiva partner Asasah for the expansion of her husband’s welding business. With the loan, he will purchase another welding machine and hire an assistant which will help him do his business better and offer quality services to his clients.
Asma hopes that her husband will earn a better income with the help of his improved business conditions after the investment. She is a regular loan user of Asasah and this is her second loan application. She has established good credit behavior in her previous loan year and never missed a meeting.
Note: “In the photo, the lady with a raised hand is Asma”.
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