Ghulam Fatima M. Hanif Group
Fatima baji is a seamstress. She sews clothes to share the financial burden of her husband. She successfully repaid her two previous loans from Asasah, a microfinance institute in Pakistan. Now she is applying for a loan to buy an auto-rickshaw (a local three-wheeled motor vehicle) for her son.
She is a the leader of a group of women in her locality. Mukhtaran baji wants a loan to buy an animal to sell. Nasreen baji wants a loan to buy cosmetics to sell. Kosar baji wants a loan to buy a lath machine. Another woman, also named Mukhtaran baji, wants a loan to buy leather 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.
Note: 'Baji,' which means 'older sister,' is a term of respect for women in Pakistan.
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