Perveen is an embroidery expert. She prepares beautiful-looking embroidered clothes for her clients for reasonable rates. She is also a very good housewife and performs her household duties very well.
Perveen has applied for a loan from Kiva partner Asasah for the betterment of her embroidery business. With the loan, she will buy embroidery materials in bulk quantity to allow her to make different kinds of beautiful-looking embroidered clothes and increase her sales and profits. She is very confident that this investment will help improve her business and also the living standard of her family.
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