Afriyie Trust Bank Group
George carves mortar from a piece of thick stemmed wood. He plans to use the loan to purchase additional wood drilling machines to enable him carve more mortar and improve his income. George possesses about 25 year’s of hands on experience mortar carving and pestle making. He is also a hard working farmer.
George is married to a woman who is a farmer and together they have two children. He lives with his family in Berekum, northern part of Ghana. Above all, he hopes to increase his savings to acquire his own accommodation. As the leader of the group, he ensures that all members attend meetings and submit their repayments.
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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