Sesa Me Trust Bank Group
For the past 15 years, Theresa has operated a trading business where she sells smoked fish. She also trades in wax cloth (printed fabric) and shoes. She plans to use the loan to purchase more smoked fish. Her future dream is to open her own shop where she can sell her products.
Theresa is currently the leader of the 12-member trust bank group named "Sesa Me", which means “Change me” in Twi. Twi is the language most commonly spoken in Ghana, especially in the Ashanti region. The other group members are engaged in trades such as smoked fish seller, wax cloth seller and grocery seller. They hope to receive the loan to enable them to buy various stock to grow their businesses and provide more support to 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