Shameem is a brave lady, who never lost courage and started an electronics sales business. She sells televisions, fridges, and computers wholesale. Different shopkeepers purchase these items from her and she makes good income every month.
Her elder daughter has graduated and works in a multinational company. Her elder son has a garment shop while the others are studying.
Shameem has applied for a loan from Kiva partner Asasah for the further expansion of her own business. With the loan, she will buy televisions and computers, etc. to sell. She has 10 years of experience in her business and she is confident that after the investment it will grow further. She is a new loan user of Asasah and this is her first loan application.
Note: In the photo, the lady raising her hand is Shameem.
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