Bernice is a 32-year-old trader who is a single parent with two children. She has five years experience and works from Monday to Saturday selling materials which are used to make ladies and children's dresses. She is constantly working to improve her business capital. This is her third loan with ID-Ghana and she is requesting an amount of 400 Ghana shillings (GHS) to buy more goods for her customers in the community.
The entire group needs a total amount of 1,550 GHS for business expansion and to meet customer demand.
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