Her husband is a very hardworking person. He gets up early in the morning, gets milk from the buffalo and then goes to clients in the community and to milk shops to sell it. In this way, their financial circle goes.
Nasreen has applied for a loan from Kiva partner Asasah for the further expansion of her husband’s business because now his milk demand is increasing day by day and a single buffalo is looking insufficient to meet the requirement. With the loan, he will buy another buffalo to increase the milk production to take care of his new clients.
Nasreen is hopeful that the loan investment will prove a productive one for her husband.
Note: In the photo, the lady with a book (called Asasah Passbook) is Nasreen.
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