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What is Group Lending

Handbook of Research on Social Entrepreneurship and Solidarity Economics
A lending mechanism which allows a group of individuals - often called a solidarity group to provide collateral or loan guarantee through a group repayment pledge. The incentive to repay the loan is based on peer pressure, if one group member defaults, the other group members make up the payment amount.
Published in Chapter:
The Effect of Microfinance on Poverty Reduction in Developing Economies
Christopher Boachie (Central University College, Ghana)
DOI: 10.4018/978-1-5225-0097-1.ch013
The study explores the contributions of microfinance to poverty reduction. The study used a descriptive design to establish the relationship between sales performance and access to credit in the SME sector in Ghana. Cross sectional survey was used to gather relevant data. The target population was the micro businesses in Madina in Ghana with a sample size of 200. The study reveals that microfinance has a positive impact on micro businesses. There exist a significant relationship between microfinance and sales. It was also found out that, the dependency burdens on micro entrepreneurs coupled with the low credit access from the microfinance institution for productive activities lead them to deploy the credit to meet the demand of both the business and household.
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