She has applied for a loan from Kiva partner Asasah for her husband who wants to buy some repair tools for the betterment of his business. This will allow him to provide better quality services to his clients and earn better profits. He has been doing his business for the past 10 years and Perveen is hopeful that an investment will be more profitable for him and it will help her family to have a better standard of living as a result.
Note: In the photo, the lady raising her hand is Perveen.
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