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Stetson University CHOMI
Center fof Holistic Microcredit Initiatives
   
CHOMI's Mission
Programs offered
CHOMI Lending Terms
CHOMI Meetings
Peer Groups

Peer groups are groups that are formulated by loan applicants. A group can have 3-7 members.

  • Prospective groups receive training and the opportunity to develop group solidarity
  • They will establish independent businesses
  • Members cannot be related by marriage or blood.
  • Groups must certify with an oral exam whether they are ready for a loan after training
  • Group Chair will serve as the leader and contact person with CHOMI
  • Group secretary keeps minutes of meetings
  • Groups must agree to support each other's businesses and share responsibility for each other's loans
  • Group decides who gets the first loan and subsequent ones
The spirit of being Human