Monica A., 39 and married with four children currently schooling, owns and operates a little grocery shop selling items like rice, evaporated milk, canned foods and drinks, assorted cooking oil, washing powder, toilet soaps, candies, biscuits, etc. at the local market. She wants to use this loan to buy rice, canned foods and drinks, milk, assorted spices, washing soaps and powders, etc. to expand her business. She hopes to make good income from the expanded business to finance her children’s education to provide them with life opportunities better than what she had.
Monica belongs to the community group called Faith Trust Group. In this group, members guarantee for one another as social collateral to access a loan and peer pressure to repay the loan.