Ama is thirty – five years old. She is married and has given birth to two children. She works very hard to support her husband to provide for the family. She lives with her husband and children in a rented apartment in Oda in the Eastern region of Ghana. Ama is a trader. She is the leader of a trust bank group called “Asikafo” which literally means wealthy people. Most of the members in this group are engaged in trading activities such food selling, services, clothes selling, provision store, etc. They normally sell in their community market and treks to sell in other communities as well. They procure their stocks from Accra and nearby towns. The experience some of these traders have amassed over the years has given them the urge to expand their business scope, hence the need for the loan to buy goods in bulk to realize this dream. The group leader, Ama, stands in the photograph.
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.