Rebecca, 35, is married with two adorable children who are of school-going age. She sells foodstuffs like cooking oil, maize (corn) and ‘Gari’ (food product from cassava). She began this business by learning it from her mother and now she has six years of experience. She also has the support of her husband, who is a driver. She joined this group and she has decided to request a loan of GHC 700 to be used for the purchase of maize, gari and cooking oil. In this way, she can increase her working capital.
The other members are Rosemond, Janet, Henrieta, Elizabeth, Juliana and Mabel who make earn living through sales. They are in second-hand clothing, cosmetics, clothing materials, provisions, fish and soft drinks selling.
In the future Rebecca hopes to have enough capital to be able to supply to her numerous customers. That is her ambition.
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.