Tumi Wura Group
Francisca is the leader of a trust bank group called ‘Tumi Wura’ which literally means one in authority. She is behind the group in the photograph. The members of this group are mostly traders, food vendors and/or farmers. They buy their raw materials, wares or goods from Kumasi and sometimes from nearby communities and sell at the market square in their community. Some of them trek to other towns to sell on their market days as well. The members have been in business for sometime and have amassed a great deal of experience in their businesses.
In this group, the members guarantee for one another as collateral to access the loan. They are requesting the loan to procure more goods so as to be able to expand their business.
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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