Precious Women Group
Oldlady and her family live and work in the Marshall, Elwa, community in Monrovia, Liberia. She was never able to continue her education through 1st grade due to lack of financial support from her parents. In the photo, she is the one holding the sign.
Oldlady’s business is the sales of raw fufu (cassava flour) and charcoal. She buys her goods wholesale from rural Liberia and sells to residents of Marshall in Elwa. She has been running this business for more than ten years and hopes to own a big shop in the near future. Oldlady started by selling with a little fund that was given to her by her husband but has now raised more funds for her family through her business.
Oldlady has a good management system and does not credit her customers. She also has a good manner of approach to her customers in order to encourage them to continue buying from her. She needs this loan to purchase more fufu and charcoal to sell in order to improve her business.
Oldlady dreams of building a house for herself and her family.
The Local Enterprise Assistance Program (LEAP) is Liberia's largest and oldest continuously operating micro-finance institution with thirteen 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