The members of the group all work hard. They are engaged in commercial activities, such as selling food, groceries, and clothing. Some of them sell their products door-to-door ("hawking") while others trek to nearby communities to sell on their market days. They buy their goods in Kumasi and nearby towns. They have acquired a great deal of experience over the years and they want to expand their businesses, hence the need for the loan to buy goods in bulk to realize this dream.
The group leader, Olivia, is seated in the photograph.
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