Joel Group

In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.

The leader of this small group with the group name ‘Joel’ is Paul and he is the one sitting in the group photograph. He is currently in the business of grocery products and sells items like cold drinks, evaporated milk, sugar, biscuits etc. and is requesting a loan to buy a stock in bulk. Paul is 43 years old and is married. He has four children, ranging from age 18 to 4, and his children go to school. He takes delivery of stock in Kumasi central market in bulk and retail to his customers in his shop. He requests for the loan to buy increased stock to upgrade his inventory.




About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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