So Aba Pa Group
The leader of a trust bank group called ‘So Aba Pa,’ which means ‘Bear good fruits,’ Charity is the one seated in the group photograph. Most of the members of this group are petty traders, food vendors and farmers. The group members provide social collateral for one another to access the loan, and utilize peer pressure to ensure repayment of 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