Trust Groups
In 1991, a group of Opportunity supporters formed the Women’s Opportunity Network (WON) and created an innovative group-lending methodology called the Trust Group. A typical first point of entry, the Trust Group joins together 10 to 30 entrepreneurs who elect leaders and pledge to guarantee each other’s loans. Because the group guarantee replaces the need for collateral, credit becomes available to those previously excluded from formal financial services. Each week, as Trust Groups gather to repay their loans, Opportunity provides educational sessions to develop business skills and enhance personal growth. In 2009, almost 1.2 million clients received transformative training on a wide range of topics.
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Famous quotes containing the words trust and/or groups:
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