Her husband is a contractor as well as an animal seller. He purchases goats and sheep in their younger age from an animal market and then sells them for profit after raising them.
He has vast experience in this field and knows the ups and downs of his business very well.
Manzooran is the mother of three daughters and a son. Two of them study while the other two are not yet of school age.
She is requesting a loan from KIVA partner Asasah for the further expansion of her husband’s animal sales business. With this loan investment, he will purchase goats and sheep in larger numbers and selling them to butchers at a profit.
Manzooran is hopeful that her husband will have greater success in his business after this loan investment.
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