Sakina Ishaq Ahmad Group
Sakina baji is the wife of I. A. and has lived in the city of Borewala, Pakistan for the past 25 years. She is the mother of four sons. Her elder son sells undergarments and her second oldest son has a poultry farm.The two younger sons are still in school. Sakina baji is a nurse that works in a clinic earning a monthly wage.
Sakina baji is applying for a loan to purchase more chickens to expand her sons poultry farm business. She is joined in her loan group by other members. Yasmeen baji is requesting a loan to buy wood for her furniture making business. Razia baji is requesting a loan to buy electronic appliances (fridge and Television) on installments. Razia baji is requesting a loan to buy eggs, cooking oils and vegetables for her food stall.
This is a group loan. The loan funds will be distributed among the group members, each of whom will invest in their own business. The members mutually guarantee one another's loans. If one member does not repay, the other members are responsible for repayment.
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