Biakoye Trust Bank Group
Akua is currently the leader of the trust bank group named "Biakoye", which means “Unity” in Twi, the language most commonly spoken in Ghana. There are 13 members in the group. The members also operate retail businesses selling items such as fish, yams, and rice. They hope to receive the loan to enable them to buy various stock to grow their businesses and provide more support for 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