Monica is 43 years old and single. She is the leader of this group, and they sell items like soft drinks, foodstuff, bowls, kid wears, jewelry and decorative materials. She sells the soft drinks and foodstuff. She needs 1,500 GHS to be able to buy more cassava, plantains, Malta Guinness, Sprite, Coca-Cola and other drinks. Monica has applied for a loan from Kiva partner ID-Ghana for the further improvement of her drinking bar business, so that she could attract customers and make more profit. She has been operating her business for the past eight years, and Monica is confident that the Kiva loan will help her make her business more profitable.
This group includes Paulina, Doris, Mary and Gloria, and they need a total amount of 3,700 GHS to expand businesses.
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.