Joy Trust Bank Group
Akua is currently the leader of the group named 'Joy Trust Bank Group'. She believes she was elected as the group leader because she is a good organizer. There are 9 members in this group. The other members include 'kenkey' food processors, soap manufacturers, and maize traders. 'Kenkey' is a local dish prepared from maize, cooked and eaten with pepper sauce and fish. They plan to use the loan to buy food ingredients and other stock to grow their business and be able to adequately support their families.
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