Nyame Tumi So Group
Anna is 53 years old, divorced and the mother of three kids. All her children are girls and they are all traders in the community market. Anna is very resourceful in the provision of food and payment of bills for her family. She wants to use this loan to buy more raw materials like bags of maize, meat, fish, vegetables and firewood. She hopes to increase her savings to support her business output.
Anna is the leader of a trust bank group called ‘Nyame tumi so’ which means ‘God power is great’. She is the one in the middle in the group photograph. Most of the members of this group are petty traders, food vendors and/or farmers. In this group, members guarantee for one another as social collateral to access the loan, and there is peer pressure to repay the loan.
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