Bushra baji is the wife of Abdullah K. and lives in a city named Borewala, Pakistan. She has been living in this city for the past 20 years. Bushra baji completed her education till 5th standard. She couldn't continue her education due to her father's low income. Bushra baji is a mother of six children: four sons and two daughters. Her eldest son has an engine oil selling business. The next to him has a fruit selling business. The younger to him is in 7th standard. Her youngest son is in kindergarten. Her elder daughter is in 5th standard and her younger daughter is in 3rd standard. Bushra baji's husband is a milk seller and has been selling milk for the past 10 years. Bushra baji is a housewife and prefers to do household work and take care of her family.
Bushra baji has a dream of giving her children a good education. The reason behind this dream is that she wanted to get higher education herself but due to her father's low income, she couldn't fulfill her wish. Now she has the opportunity to fulfill her dream through her kids. She is applying for a loan to buy more seasonal fruits for her son so that he is able to expand his business and earns good profits.
She is joined in her loan group by a few more members. Rukhsana baji wants a loan to buy marbles for her marble selling business. Kaneez baji and Sharifan baji each want a loan to buy more shoes for their shoe selling businesses. Zahida baji wants a loan to buy iron to resell. Ghulam Fatima baji wants a loan to buy ingredients (lentils, cooking oil and spices) for her food business.
This is a group loan. The loan funds will be distributed among the group members, each of whom will invest in her own business. The members mutually guarantee one another's loans. If one member does not repay, the other members are responsible.
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.