Our KIVA Loan this month goes to Sakina of Lahore, Pakistan. Sakina is 48 and the mother of two sons and four daughters. Her husband is a milkman who delivers fresh milk to households and businesses.
Her husband is in the classic catch-22 of the small business person. In order to increase his income, he needs to have more milk to sell; to have more milk he needs to buy another buffalo. In order to buy another buffalo he needs money, but he has not been able to accumulate enough money to buy a second buffalo. In order to help her family, Sakina has requested a loan so that her husband can buy a second buffalo.
Sakina and her husband are thankful to BRAC Pakistan for the opportunity to have access to a small business loan and are hopeful that having a better income will enable them to provide a better future for their children.
BRAC Pakistan focuses its work in some of the most underdeveloped parts of Pakistan, characterized by poor infrastructure and high levels of poverty. BRAC Pakistan enables people living in some of Pakistan's poorest areas to access financial services.
About BRAC Pakistan
BRAC Pakistan is a subsidiary of BRAC, one of the world’s largest development organizations with a focus on microfinance and economic empowerment. It offers micro-loans designed to help small businesses, very poor clients and others, in addition to health and education services. Kiva’s flexible, zero-interest capital will enable BRAC to expand its outreach in underserved regions and to women who have had no access to microfinance services.
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. Each will use her loan to finance her own small business.
Consider becoming a KIVA lender today! With only $25.00 you can change the life of a hardworking small business person in the Third World, help a family build a decent home, send a young person to school, pay for medical expenses, buy seed for a crop or livestock for a farm. In short you could provide the miracle someone is praying for this Christmas.