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Isaac Nyame Group
In this Group: Prince, Rose, Salamatu, Janet, Akosua, Rose, Nana, Janet, Veronica, Emelia
Prince is a professional carpenter and has been in business for the last three years. He is 29 years old and married with one child. Carpentry has been his major occupation and the main source of livelihood for his family. He owns a carpentry shop where he manufactures all kinds of furniture. He says that, for lack of adequate working capital, he is not able to pre-finance most of the orders from his customers. This slows down his work because he has to wait for funds from his customers before any work can begin which often causes delays.


Prince requests a loan to enable him to procure useful working tools and furnishing materials like polish, glue, sandpaper, wood, etc., to improve his efficiency. He believes this will increase his income and ensure good living for his family. He is grateful for the assistance.


Prince is the leader of a trust bank group called "Isaac Nyame" which means "The God of Isaac". He is the one sitting in middle of the group in the photograph. Most of the members of this group are petty traders, food vendors and/or farmers. In this group, members guarantee for one another as social collateral to access the loan and there is 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
  • 45
    View loans »
    Ghana Loans Fundraising
  • $11,470,775
    Funds lent in using Kiva
  • 1.4
    Ghana Cedis (GHS) = $1 USD

Success!! The loan was 100% repaid

A portion of Isaac Nyame Group's $3,975 loan helped a member to buy tools and furnishing materials like polish, glue, sandpaper, etc.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 12, 2009
Listed
Nov 22, 2009
Currency Exchange Loss:
Possible
Ended:
Jun 15, 2010