Group Loans
Empowering communities through joint financial responsibility and mutual support for income-generating ventures.
Group Loans
Group Loans are designed to support clusters of 5 to 10 women or individuals from underserved communities who come together to access credit collectively. By fostering a sense of shared accountability, these loans enable members to invest in small businesses, generate income, and build financial resilience as a group.
Features
- ✔️ Loans provided to groups of 5–10 members with joint liability.
- ✔️ Peer accountability ensures high repayment discipline.
- ✔️ Weekly or bi-weekly repayment options.
- ✔️ Minimal paperwork and quick processing.
Benefits
- Promotes collective empowerment and cooperation. 🌱
- Supports self-employment across multiple households. 🌱
- Builds trust and credit history for future financial access. 🌱
Loans Eligibility
Offered to joint liability groups comprising individuals from similar economic backgrounds aiming to launch or expand small businesses.
Eligibility Criteria
- ✔️ Group of 5–10 individuals with shared loan purpose.
- ✔️ Age of members between 18 and 60 years.
- ✔️ Valid ID and address proof for each member.
- ✔️ Basic business plan or income-generating goal.
- ✔️ Willingness to participate in group training sessions.
Loan Calculator
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FAQS
A group loan is offered to a cluster of 5–10 individuals who jointly apply for a loan and share the responsibility for repayment.
All group members are jointly liable. If one person defaults, the rest of the group is responsible for covering the repayment.
No. Each member can use the loan for different income-generating activities, but the loan is managed collectively.
Yes, basic orientation on group responsibilities and repayment process is provided before loan disbursement.
While many group loans support women’s self-help groups, men and mixed groups are also eligible under certain programs.