Maqsood Bibi's Group
Maqsood owns and operates a sewing business from her home. She takes orders from her community clients and bases her fees on the work she is asked to do. Her clients are satisfied with her and don’t argue about her rates.
Her husband is a scrap dealer who sells scrap to factories and other scrap dealers at a profit. Maqsood is requesting a loan from Kiva partner Asasah for her husband’s business. He intends to use the loan to purchase scrap in bulk, which he will sell in order to generate more revenue. Maqsood is hopeful that the loan investment will bring positive financial changes to his business and her family’s standard of living will be improved further.
Note: In the photo, the lady holding a book (called the Asasah Passbook) is Maqsood Bibi.
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