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Progress Group
In this Group: Comfort, Mary, Christina, Esi, Aba
Comfort is 29 years old trader she is married and mother of four children. All her children are currently in school. She is a very resourceful mother whose hard effort brings livelihood to the family. She supports her husband in taking care of the family through the sale of used clothing sales. Selling of used clothing has a very big market share in Ghana as brand new cloths are very expensive for the economically active poor and has been in this business for a year now. She travels to a nearby city called Kumasi to purchase her stock of goods. She wants to use the loan to buy more bales of used clothing to increase her inventory she normally concentrates on kid’s wear, bed sheets and used towels sales. She believes this loan would help her save for her children future and also to rent a store to trade as she sells the clothing through hawking.

She is the leader of a trust bank group called ‘Progress’. She is the one in the middle in the group photograph. Most of the members of this group are petty traders, food vendors etc. In this group, members guarantee for one another as social collateral to access the loan and peer pressure to repay the loan.

Additional Information

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Ghana

  • $3,500
    Average annual income
  • 46
    View loans »
    Ghana Loans Fundraising
  • $11,467,375
    Funds lent in using Kiva
  • 1.5
    Ghana Cedis (GHS) = $1 USD

Success!! The loan was 100% repaid

A portion of Progress Group's $1,925 loan helped a member to buy increased bales of used clothing and bags charcoal.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 11, 2009
Listed
Aug 19, 2009
Currency Exchange Loss:
Possible
Ended:
Mar 26, 2010