Naseem akhtar is a 31-year-old married woman and a citizen of a Borewala, Pakistan for the past 16 years. Naseem baji is an uneducated lady because she belonged to a poor family and her parents couldn’t bear her educational expenses. Naseem baji is the mother of four children: three sons and one daughter. All of her children are getting an education because Naseem baji wants to give her children all the things that she didn’t get. Her wish gives her strength to move ahead and work for it. She has a buffalo and she gets milk from it and than goes to the milk shops to sell the milk. She earns the required income and can easily pay the school fees for her children. Naseem baji is the wife of M. A., who runs a grocery shop in the community. People used to come to him to buy groceries. She successfully repaid two loans from Asasah (a microfinance institute of Pakistan). Now she is applying again for a loan to buy groceries for her husband’s grocery shop.
She is the group leader of more women in her area. Razia baji would like a loan to buy paint for her paint shop. Ameena baji would like a loan to buy seasonal fruits for her fruit selling business. Zahida baji would like a loan to buy animals (goats) for her animal selling business. Tasleem akhtar baji would like a loan to pay off the remaining installments for her auto-rickshaw (a local three-wheeled motor vehicle).
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.