Marie is a 40-year-old beef, milk powder and provision seller, married to Samuel, a 42-year-old mechanic. They have three children. The two eldest are twins, and all three are in school. Marie needs a loan of 700 Ghanaian cedis, to buy beef and frozen meat to resell to her customers. She will use the profit to help her husband to take good care of their children’s education. She has been in her business for the past three-and-one-half years and has finished repaying her prior loan of 700 Ghanaian cedis.
The group requests to borrow an amount totaling 1,700 Ghanaian 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