The group is comprised of three women who, three years ago, decided to come together to join ID-Ghana (MFI). This has served them very well as they have been able to grow their small businesses. They sell plastic products, plantains, kids clothes and provisions.
Mary (standing from left in the photograph) is a 41-year-old married woman with three children. She sells plastic products. She has nine years of experience and works from Monday to Saturday from morning to evening. She is constantly working to improve her business. This is her fifth loan with ID-Ghana and she needs 900 Ghana cedis to buy plastic chairs, plastic bowls, plantains and pampers to sell to customers.
She sells these products to generate money to take care of family expenses and for her housing project. She has been doing this business for six years and the business is going well. She buys from the market and sells in her locality.
The group members need a total of 2,200 Ghana cedis to expand their businesses.
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