Anthony is twenty-seven years old. He is married and has no children at the moment. He is a trader. He deals in game meat. He supplies local chop bar operators. Anthony is the leader of a trust bank group called "Shalom." He is the young man seated in front in the group photograph. The members of this group are mostly traders, food vendors, and farmers. They work very hard to support their spouses and to provide for their families. They buy their raw materials, wares, or goods from Kumasi, and sometimes from nearby communities, and sell at the market square in the community they live in. Some trek to other towns to sell their products. The members have been in business for some time and have amassed a great deal of experience in their businesses. They guarantee for one another as collateral to access the loan. They are requesting the loan to procure more goods and raw materials to be able to expand their businesses and improve their standard of living.
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.