Emmanuel is a 56-year-old married man and a member of the Smile group. He has been operating a drinking spot where he sells softdrinks and fruit drinks at his resident for about 8 years now.
Emmanuel joined his group in 2009 and since 2010 ID-Ghana has supported him financially. This is his fifth loan cycle and he needs Kiva’s support of 500 Ghana cedis to help him increase his stock. The profits from his business will go toward savings, food, and supporting his grandchildren's education.
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.