Mary, 58, is the group’s leader. She lives with her four children, who help Mary in her business selling maize. She has worked from home seven days a week for the past ten years. She buys her maize in the Brong Ahafo region in central Ghana and other supplies in Accra. She sells the maize to thirty customers in Teshie alone and ten customers from nearby towns.
Mary last took a 1,200 GHS loan with ID Ghana and invested it in her maize business. She repaid it without difficulty. This will be Mary’s fifth loan with ID Ghana. As leader of the group she is applying for a 5,250 GHS loan that will be apportioned among her group’s members.
Mary will use her 1,700 GHS portion of the loan to buy twenty bags of maize and other supplies. She is well placed to use this loan judiciously.
One of Mary’s goals is to own a maize depot so she can supply more customers. By doing so she will increase her income and so improve her quality of life.
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