Akoma Adweo Group
Theresa sells lingerie products like underwear, panties, brassieres, skirts, etc., and has been in business for three years now. She also trades in earrings and sells through hawking (selling on foot) in and around the community market.
Theresa is constrained by funds to run the business. She needs the loan to inject more working capital into the business to scale up her business progress as we approach Christmas festivities. She believes the loan will enable her to purchase good quality and a large quantity to upgrade her inventory. She says she would be grateful for that assistance.
Theresa is the leader of a trust bank group called “Akoma Adweo” which literally means a “sober heart”. She is the one seated in the middle in the group photograph. Most of the members of this group are petty traders, food vendors and farmers respectively. In this group, members guarantee for one another as social collateral to access the loan and provide 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