Her husband is a driver by trade and Safia helps him support their family by selling ready-made garments. She makes these garments by purchasing cloth pieces from clothes shops and sells to her clients at a good profit. She has applied for a loan from Kiva partner Asasah for the further expansion of her business. With the loan, she will buy cloth pieces in bulk quantity that will allow her to make clothes according to her customers’ demand and earn better profits. She hopes that an investment will bring positive changes to her business and increase her income.
Note: In the photo, the lady with a book (called Asasah Passbook) is Safia.
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