Matilda is a 42-year-old trader who is married to Emmanuel, a 50-year-old trader. They have one child. She has been with ID Ghana for the past two years and doing very well with her business.
She operates a drinking bar from Mondays through to Sundays. She has been doing this business for 15 years now. Without ID Ghana’s training on savings she would not have made it this far.
This is her third loan and she needs GHS 1,000 to buy more drinks to sell to her customers.
They need a total amount of GHS 1,950 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