Mary is a 31-year-old hairdresser. She lives with her 55-year-old mother. She has been with ID Ghana for the past two years and is doing very well. She has been in this business activity for six years now. She works from Monday to Saturday and has six apprentices. This is Mary's fifth loan. She needs an amount of GHS 1,200 to buy wigs, pomades, shampoo and weavon products to sell to her customers. She is grateful to ID Ghana.
The group needs a total amount of GHS 3,200 to buy more to sell to their customers in the Dansoman 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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