Eugene, the leader, is 33 years old. He has been doing this for the past five years. On the 25th March, 2010, he took his first loan of GHS 200. Through his dedication and seriousness in his business, he has been able to build up trust with ID Ghana.
For his seventh loan, he is requesting an amount of GHS 3,000 to help him boost the business and to satisfy his customers' demand in and around the community.
The two members together need GHS 4,500 to buy more goods and sell to their respective 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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