First Choice Group
One of the members of the group is Diana, who has been selling plastic products for twenty-two years. She is 46, married to a 54-year-old civil worker, and has two children ages 24 and 20, both of whom are in school. They don't own a house but stay in the husband's family house.
Diana spends most of her time at her own big store where the plastic products are sold. She sells everything from plastic spoons to plastic chairs - any item made of plastic or rubber. She needs 1000 Ghana cedis to buy more plastic products. She intends to supply to customers and other retailers. This is her fifth loan with microfinance.
She has been investing all her profit so as to buy enough to meet customer demands. Her goal is to have a a plastic products depot since there is none in her locality.
Together with her colleagues, they will need 5700 Ghana cedis.
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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