Adei is a married woman with one child. She runs a business selling slippers and fish. She has been selling these products for eight years. She started this business because she felt the need to produce income to support her pensioner husband to take good care of their child. Adei is requesting for her 5th loan from ID-Ghana and she is very excited to receive it through Kiva, because these previous loans have been able to increase her sales and profit. Her plan for the future is to own a cold store where she can sell these fish in large quantity. She is very thankful for Kiva’s support.
The other members are Mary, Beatrice, Elizabeth, Augustina and Angela. They need a total amount of 3,600 GHS (Ghanaian cedi) to be able to expand businesses.
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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Success!! The loan was 100% repaid