Yesu Nti Trust Bank Group
Emelia is excited to be taking out this loan, which she plans to invest in the purchase of kente cloth in bulk to expand her market. Emelia also engages in cocoa farming as her second business. She hopes to mobilize more savings to rent a shop to showcase her kente cloth and improve her business.
Emelia is married to a farmer with four children from age 14-22 years. She hopes to secure university admission for her first born. The other members of the group are also traders in kente cloth, smoked fish, and cosmetics. They live in the same suburb of the community and as the leader Emelia ensures regular meeting attendance and repayment of loan installments.
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