He is in the process of establishing his business, and Shahnaz has applied for a loan from KIVA partner Asasah to help him. With the loan he will buy scrap in bulk quantity to be able to fulfill his clients' requirements and increase his profits.
Shahnaz is hopeful that an investment will help her son in his business, and he will be able to run it better.
Note: "In the picture, the lady who has passbook (called Asasah passbook) in her hand is Shahnaz."
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