These group members sell soft drinks, car spare parts, maize, plantains, yams, frozen food, cloth and fish.
Nora, the fat lady at the centre of the front row in the picture, is using her loan to buy four crates of Malta Guinness, four crates of Sprite and three crates of Coca-Cola. She buys her drinks from the depot and sells them at the central market in Accra. She expects to earn 80 GHS monthly, which she will use to support family expenses and for reinvestment.
The group needs a total of 4,750 GHS.
About ID GhanaID Ghana is a microfinance NGO that provides financial and social services to underserved urban communities in Accra. ID Ghana’s socially-oriented business model provides clients with a number of social services, including financial literacy training, group discussions led by peer educators on health and nutrition education, child schooling, basic medical services, and counseling and legal services for women victims of violence.
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