Living Jesus Group
She wants to use the loan to buy more bags of rice, bags of sugar, cartons of vegetable oil, boxes of body and hair creams, etc. to increase her inventory. She deems it a big opportunity to expand her business. She hopes to improve sales to enable her to save more for the children’s education and also to help her spouse to build their house.
She belongs to the community group called Living Jesus Trust Group. In this group, members guarantee for one another as social collateral to the loan and support one another to repay the loan.
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