Akwei Allah Group
Stephen is a supplier of local palm fruits and palm oil. Palm oil is produced from palm nuts fruits. The palm oil is processed through various stages to obtain the palm oil, which is used to prepare many local dishes like fried fish and pastries, as well as local soaps. He supplies to food vendors to prepare their meals. He also sells the palm fruits to those who need them for further processing. He wants to use this loan to buy more bags of palm fruits. He believes the loan will enable him make more profit as we enter the Christmas festivities.
Stephen is the leader of a trust bank group called ‘Akwei Allah’, which literary means Except Allah. He is the one standing in the middle in the group photograph. Most of the members of this group are petty traders, food vendors, and farmers. In this group, members guarantee for one another as social collateral to access and repay the loan. The group would be grateful for your assistance.
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