This also happens to be the first real group loan on the MYC4 platform, something which has been in demand from a lot of MYC4 investors for a while. In the group lending model members guarantee each others loan and the loan is thereby secured through social collateral rather than hard physical collateral. In this particular group, 15 women have come together to access loans and improve their small-scale businesses. The total loan amount applied for by the group is €1,896. Each member will receive between €77-€130 to be repaid in 12 months.
One of the members of Asianut Women’s Group is the 21-year old fish monger Josephine Adumo. She has been selling fish for the last two years and supplements her income with a farming business as well. Josephine is married to a teacher and has 3 children. If the group’s loan gets funded by MYC4 investors, Josephine will be borrowing €77.
To lend to Josephine and the other 14 members of her group, follow this link: Asianut Women Group