Her husband is a fruit seller by trade. He sells fresh seasonal fruit from his shop in the community market. Adeela is the mother of four children: two of them are enrolled in a local school while the others stay at home.
The summer season has come and her husband needs to offer some fresh seasonal fruit to his customers. Therefore, Adeela has applied for a loan from Kiva partner Asasah to help her husband in this regard. Her husband has more than 10 years of experience in his business and Adeela hopes that an investment will help him improve his business and increase his profits.
She is a regular loan user of Asasah and this is her 2nd loan application. In the previous loan year, she has established a good credit behavior and never missed any meeting.
Note: In the photo, the lady with a book (called Asasah Passbook) is Adeela.
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