Me Som Trust Bank Group
Esther is currently the leader of the trust bank group called "Me Som", which means “I will serve” in Twi, the most commonly spoken language in Ghana. There are five members in this group. The other members of the group are traders in foodstuffs, cosmetics, pastry, baked goods and others. Esther says that the whole group is well organized and they hope to use the loan to grow their businesses and improve their respective families' living conditions.
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