Parveen Patras Group
I am a mother of three kids: two sons and one daughter. All of my kids are getting education from a local school. I stay at home and sew clothes of my neighbors. I sew clothes to help my husband to meet the financial expenses of the household. I have successfully repaid my two previous loans from Asasah (a microfinance institute of Pakistan). Now I am applying again for a loan to change the body of my husband's auto-rickshaw so that he is able to continue his work.
I’m a group leader of some more women of my locality. Rozina baji wants a loan to buy an auto-rickshaw (a local three-wheeled motor vehicle). Khairan baji wants a loan to buy sanitary supplies to sell. Shamshad baji wants a loan to buy goats for her animal selling business. Shamim baji wants a loan to buy seasonal fruits 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