Nawaz Zada is a 32 years old married man. He lives with wife, two sons and a daughter in a very small house comprising of just one room in an over populated area in Lahore. Currently two children attend school. A Mechanic by profession, he also knows how to drive a rickshaw and uses this skill to make some extra money. Besides being a housewife his wife also stitches clothes for the neighborhood ladies and makes USD 40 to 50 each month.
Though he makes an average of USD 220 each month his never ending expenses makes it difficult for him to get through the month. Buying a new rickshaw is therefore out of his capacity and no collateral for getting a loan from conventional banks.
In this scenario has reached to Seedout to get an interest free loan to buy a rickshaw and repay the loan in easy installments.
- $1295AVERAGE ANNUAL INCOME
- 22.3%POPULATION LIVES UNDER POVERTY LINE
- 103.215 PAKISTAN RUPEES (PKR) = $1 USD