Women Life Group
Mary is 60 years old, single, and sells fish and sandals. All her children are now independent and are working to take care of themselves. She has been doing this job for 26 years at her residence. She starts work at 6:00am and closes at 6:00pm. She needs 800 Ghana cedis to increase stock by buying 3 cartons of fish and 1 box of sandals. This is her 3rd loan cycle; in the 2nd loan she was given 500 Ghana cedis which was used for the same purpose. She has been using her profit for a housing project: that is why she is requesting 800, so that she can buy enough to sustain her business.
They need a total amount of 2350 Ghana cedis to be able to buy enough goods.
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