God Grace Group
Mary and her family live and work in the New Matadi Fanti town community, about two miles away from downtown Monrovia, Liberia. This is a community that is full of Fanti tribespeople from Ghana (a West African nation close to Liberia). Mary is also a college graduate herself.
Mary’s business is the sale of food such as rice, oil, onion, etc. She buys her goods from wholesalers and sells retail in the New Matadi Fanti town. She has been running this business for five years and hopes to improve business to a shop in the near future.
Mary started selling with only a bucket of pepper but now, she sells different kinds of food. She sells at a good location and has a good business relationship with her clients in order to encourage them to continue buying from her. Mary needs this loan to purchase more goods for resale. She dreams of being well known in society.
In the photo that accompanies this profile, Mary is the one holding the sign.
The Local Enterprise Assistance Program (LEAP) is Liberia's largest and oldest continuously operating microfinance institution with 13 branches across the country. Founded in 1994, the non-profit organization has survived periods of civil war and severe socio-economic hardship. LEAP seeks to help rebuild post-conflict Liberia through its group and individual loans to micro- and small-scale entrepreneurs, and puts emphasis on lending to women.
Note on LEAP:During routine partner monitoring, Kiva learned that LEAP's delinquency data may be understated due to technical problems with their reporting software. Because this report is key to our analysis of the risk of this partner, delinquency or default rates on loans to this partner may be higher than we expect. For further details, see LEAP’s partner page on Kiva.
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.
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Success!! The loan was 100% repaid