Only Jesus Group
The group members buy their raw materials, wares or goods from other towns and sometimes from nearby communities, and sell in the local market square. Some of them trek to other towns to sell on their market days as well. The members have been in business for some time and have acquired experience in their businesses. It is in light of this that they are requesting a loan to procure more goods to expand their businesses.
The members of the group guarantee for one another as social collateral to access the loan. It is their desire to give their children the best education they can afford.
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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Success!! The loan was 100% repaid