Zahida M. Yaseen Group
Zahida baji is the mother of three kids: two daughters and one son. All of her kids are getting an education from a school which located near their house. Zahida baji is a very hard-working lady. She knows the value of hard work. She keeps herself busy sewing clothes. She takes orders from her neighbors and her relatives. She does this work to pay the school fees of her kids. She successfully repaid two loans from Asasah (a micro-finance institute of Pakistan). Now she is applying again for a loan to buy livestock to expand her husband’s animal-selling business.
She is the group leader for some more women from her locality. Bushra baji wants a loan to buy utensils to sell. Taj baji wants a loan to buy repair-tools for her workshop. Amna baji wants a loan to buy a buffalo for her milk-selling business. Another Amna baji wants a loan to buy wood to sell.
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