Isaac is an electrical accessories salesman who is married to a trader and has two children. All the members of the family work in the sale of electrical accessories. This is his fourth loan cycle with ID Ghana and he needs 1,500 Ghana cedis to be able to buy more TV antennae, electrical wires, bulbs, and extension boards. He took 1,000 Ghana cedis in his third loan cycle and he finished payment on 18/07/2012. His monthly profit is 140 Ghana cedis, which he uses in part for family upkeep and in part for reinvestment. Isaac buys his goods from the electrical depot and supplies customers in Teshie and Tema.
Tafo Group needs a total loan of 6,100 Ghana cedis to be able to expand their businesses.
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