Some financial institutions only disburse out loans to people in groups. They don't give loans to individuals. But looking at it well, does group loans really have any benefit than individual loan to the people that want to access loans?
What are the Pros of group loans over individual loan?
- Thread starter Fidelia
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Group loans help to get more people involved and it's seems the repayment will be more easier to be executed
I am not aware of group loans here. I thought banks and financial institutions only lend money to companies or individuals.
eLdavis
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With group loans it is a lot easier to pay back most times since the group normally come together gather something and pay back.
The thing with group loans is that it is always the leader of the group that is scape goated if someone from the group fails to pay.
group loan, each member usually have an equal portion of the amount stated on the loan page. The group is there to provide support to its members
