The Group Loan Program


Sample icon1 This program is a convenient and easy financing mechanism to empower those with no capital.

The Organizational Loan Program (OLP)

Sample icon 2 We work with local organizations in order to form partnerships for achieving the program’s goal.

Rotating Credit for Schools (RCS)

Sample icon 3Aimed at improving schools infrastructure.In Eastern DR Congo most schools are in very poor conditions.

Our Programs

Our programs

Group guarantee—also known as or joint liability—is the basic principle of PMI Micro-lending programs. This refers to a program where clients form solidarity groups of between 5 and 10 members who support one another. Each member is responsible for paying back the loans of their fellow group members if a loan becomes delinquent. W hen a client is able to provide for a collateral, she or he has the option of borrowing though the group or independently.

 

The Group Loan Program: This program is a convenient and easy financing mechanism to enable poor men and women with no capital to build up working capital by selling goods  either separately or together, but with joint responsibility for credit repayment.

In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a ‘group guarantee’ (sometimes called ‘joint liability’). Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.

The Individual Loan Program: This program started since November 2009. In this program, clients attend a one to two hour lecture on Pro-Microfinance International’s rules and procedures.  Once this training is complete, members are able to borrow. Neither formal collateral nor a credit history is a prerequisite to qualify for a loan, although length of membership in the program, previous loans taken, and account activity are considered during evaluations. Loan terms will range from 1 to 6 months and loan amounts will begin at USD 50, and increase based on the repayment performance of the entrepreneurs.

 

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