This is a group called Tsuihitoo Ernestina with two members who sell sandals, clothing, slippers, towels, and fish at Teshie town market. Tsotsoo is 48 years old, whiles Ernestina is 53 years old. Both are married and have two children, between the ages of 3 and 21 years who are living with their parents in Teshie. This is the fourth loan cycle for Tsotsoo, while it is the second loan cycle for Ernestina.
Ernestina (standing left in the picture) sells sandals, slippers, and towels. She need this loan to buy ladies' clothing, slippers, sandals, and towels to sell. She can make a profit of GHS 80 per month, of which part will be used to support her husband and part to reinvest in her business. She needs a loan of GHS 500 (her portion of the total loan) to expand her businesses.
About ID Ghana
ID 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.