Possible Trust Bank Group
Yaw sellers different kinds of 'Kente' cloth and has a vision of setting up his own factory at Mampong so he can employ workers to weave his products for export to Europe. He currently buys from weavers on whom he depends for his supplies. He desires to give his two kids a good education so they can be gainfully employed in future.
'Possible Trust bank' has a membership of four and all are into the sale of 'Kente' cloth. Yaw, the leader of the group, was elected because of his hard work. The entire membership intend to use the loan to purchase more 'Kente' cloth so as to gain more customers.
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