Ayorkor is a 45-year-old fish seller, married to Daniel, a 52-year-old carpenter. They have two children, who are adults now and do not depend on their parents. Ayorkor needs GHS 800 to buy more fish to sell to her customers, which will support her husband. This is her fourth loan cycle with ID-Ghana.
She has been in this business for the past six years and was given a loan amount of GHS 300 at her first loan cycle.
The entire group is borrowing an amount totaling GHS 4,650 to buy more goods to sell to their customers in the community.
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