Joyce is a 33-year-old provisions seller who is single but has one daughter. Her daughter is 12 years old and is a junior high school student. They live together in a family house. Joyce operates her business at her residence, on the pavement. She sells between 7:30 am to 9:00 pm. This is her third loan with ID Ghana and she is requesting 900 Ghana cedis to buy more Milo, rice, sugar, biscuits, toffees, milk, and diapers.
Joyce and Patience (her group member) need an amount of GHS 1,700 to be able to buy more goods for their respective businesses. In 10 years' working experience, Joyce has not come across a good and flexible loan facility like that of ID Ghana’s.
She therefore wishes to build her own house in the near future out of this loan system and she is counting on Kiva’s support.
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