Atiya Abdul Latif Group
I’m a mother of four sons and one daughter. All of my sons work as welders in a workshop. My daughter is 12 years old, and she stays at home to help me sew clothes. I am trying to transferring this skill to my daughter so that she is able to sew dresses independently. I do this work to provide some income for the family and to lessen the financial burden on my husband. I have successfully repaid my two loans from Asasah (a microfinance institute of Pakistan). Now I am applying again for a loan to buy more spare parts to expand my husband’s business.
I’m a group leader of a few more women of my locality. Razia baji wants a loan to buy groceries for her grocery shop. Hamidan baji wants a loan to buy petrol to resell. Razia baji wants a loan to pay the installments of her auto-rickshaw (a local three-wheeled motor vehicle). Parveen baji wants a loan to buy vegetables to resell.
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.
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Success!! The loan was 100% repaid