Her husband operates a grocery store in the nearby market. Through his store, he sells daily use items like sugar, salt, cooking oil, etc. His rates are very reasonable, that's why he has good number of clients in his area.
Her husband wants to purchase groceries in bulk for his store; that's why Shaheen has applied for a loan from Kiva partner Asasah. The loan investment will help him in fulfilling the needs of his clients and earn a better income.
He has been operating his business for the past five years and Shaheen hopes that after the loan investment his business will grow further and his profits will be improved.
Note: in the photo, the lady with a book (called an Asasah Passbook) is Shaheen.
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