Matilda is a 43-year-old drinks seller, married to a 45-year-old businessman. They have 2 children who are in schooling. This is her second loan cycle with ID-Ghana. Her childrens' ages are 13 years and 20 years.
Matilda has been doing this job for 5 years, which shows a lot of experience. She needs this loan to buy more Coca-Cola, Fanta, Malta Guiness, and Alvaro to sell to customers. She was given 350 Ghana Cedis in the first loan cycle and now needs 700 Ghana Cedis to expand the business. Her monthly profit is 90 Ghana Cedis, which she uses partly to help her husband with family expenses and partly on reinvestment.
They need a total amount of 2,600 Ghana Cedis to be able to meet customer demand.
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