Ahemaa Trust Bank Group
Louis is a hard-working man. He is the proprietor of a private school in the community. His school being one of the good ones in town has made many parents enroll their offspring there. He has been in business for ten years.
Louis wants the loan to enable him to have his broken-down school bus mended and also to procure other logistics to facilitate teaching and learning. He hopes to give his children the best education he can afford.
Louis is the leader of a trust bank group called ‘Ahenema’, which literally means 'royals'. The group is made up of thirteen members. Some are petty traders and others are into food production/sales. The group requests the loan to procure goods and raw materials in bulk to expand their businesses.
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