GLIM (Group Loan with Individual Monitoring) accounts enable groups to take loans collectively while tracking each member's individual repayment responsibility. This approach combines the social accountability of group lending with individual member monitoring, making it ideal for microfinance institutions that want to manage group loans with transparent individual allocations.

Key Features

• Group Application: One loan application is submitted for the entire group
• Individual Allocations: Each group member receives a specific portion of the total loan amount
• Individual Monitoring: Each member's loan is tracked separately with its own repayment schedule
• Individual Repayments: Members can repay their individual portions separately or collectively

How GLIM Works

When a group applies for a GLIM loan:

1. The group submits one loan application
2. During application, you allocate specific amounts to each participating group member
3. The system creates individual child loans for each member, all linked to a parent GLIM account
4. When approved and disbursed, the full amount is transferred
5. Each member repays their individual portion according to the schedule
6. The GLIM account displays the overall status while individual loans show member-specific details

Components

• Creating GLIM Accounts - Apply for a GLIM loan and allocate amounts to members
• Viewing GLIM Accounts - Monitor GLIM account status and member loans

Related Topics

• Groups
• Loan Applications
• Loan Approval
• Loan Disbursement
• Loan Repayments