Kristo Nti Trust Bank Group
Mary operates a food vendor business, preparing and selling items such as rice, stew, yams and plantains. She also generates income from cocoa farming. Mary plans to use the loan to buy food ingredients like rice, plantains, yams, vegetables, spices, etc. in bulk. She hopes to eventually expand her business and open her own restaurant.
Mary is currently the leader of the trust bank group called 'Kristo Nti', which means “For the sake of Christ” in Twi, the language most commonly spoken in Ghana. She believes that she was elected group leader because she is faithful. There are 6 members in the group. The other group members operate trading and food vendor businesses. They hope to receive the loan to buy more stock to grow their business and provide more support to their family.
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