Gladys is a 56-year-old single woman with two adult children. Her children do not live with her but sometimes come back to help their mother to sell. She sells firewood and provisions. She has 15 years of experience in this work and has employed one person to help her.
Gladys is requesting a loan of 900 Ghana cedis from Kiva through ID-Ghana in order to buy firewood and provisions to sell. With any profits, she will be able to save money for her future and reinvest in her business. Together, they need an amount of 1,700 Ghana cedis to buy more goods for 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