A talented lady, Shabana operates an embroidery business at her home. She makes embroidered dresses for her neighboring clients and earns well after completing them. She is the mother of 2 sons and 3 daughters. All of them study, except the youngest one who is only 2 years old.
Her husband’s name is M. and he is a painter by profession. He paints walls, doors and windows on contract and generates income for the family.
Shabana has applied for a loan from Kiva partner Asasah to improve her embroidery business. With the loan, she will purchase embroidery material such as beads, colored thread and clothes in bulk to offer more embroidered variety to her customers and to make more income. She has been operating this business for over 9 years and she is hopeful that an investment will bring more profits for her. She is a new loan applicant of Asasah.
Note: “In the photo, the lady with a raising hand is Shabana”.
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