Frank, the leader, is 37 years old. He has been a tailor for the past 18 years. On the 15th of March, 2011, he took his first loan of GHS 300. Through his dedication and seriousness in his business, he has been able to build up trust with ID Ghana.
On his fourth loan, he is requesting an amount of GHS 1,200 to help him to buy sewing materials and sell products to boost the business and to satisfy his customers in and around the community.
The two members together need GHS 2,200 to buy more goods to 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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