LOFC - MicroCollection

LOLC micro credit company uses new business concept for Micro finance customers called micro group loans. Group loan product enable individuals that lack collateral securities or savings to take loans through the peer-guarantee loan model. Each group consists of three members and combining of ten groups (average) it makes the center. Center has center leader who takes the overall responsibility on repayments of all the members and he/she should be a well-known person in the village.