Rabbi Trust Bank Group
For the past 8 years, M. has operated a 'cold store' selling items such as frozen fish and chicken. She will use the loan to buy more fish and chicken for her store. M. hopes to eventually expand her business by buying more goods to sell to customers.
M. is the leader of the group called 'Rabbi', which means 'father'. There are 12 members in this group. The other members of the group operate retail businesses offering items such smoked fish, bananas and plantains. All of the members know each other well and live in the same area. They hope to expand their businesses with this 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