Charlotte is a 41-year-old underwear and provisions seller. She has 10 years of experience in her business and hawks from Tuesday to Saturday. She is married to a 44-year-old mechanic named John and they have three beautiful children. She gets her goods from the market and sells in the Teshie community. This is her seventh loan with ID Ghana and she needs a loan of GHS 2,300 to buy more provisions (milk, assorted soap, assorted canned product, Milo, sugar and rice) to sell to her customers.
The entire group needs a loan of GHS 3,750 to buy more goods to sell to their respective customers.
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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