This loan group is made up of four people who live in the town of Dansoman. They are Dickson, Abena, Mercy and Elizabeth, and have been together since June 2011. They have done well and earn a living by buying beverages, dried fish, charcoal and other items to sell to their customers. Dickson, who leads this group, is a beverage seller who is 39 years old, married and the father of three children, all of whom are in school. He has been in this line of work for eight years and has taken out and repaid three previous loans from ID Ghana. He is requesting a new loan, for GHS 1,400, to expand his business and ensure that he is meeting the needs of the people who live in his community. The entire group is requesting a loan for GHS 3,300 to buy more goods to sell to their respective customers.
About ID Ghana
ID 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.