This group is composed of three enterprising members. One of them is Mary, 43, who is married and has two children ages 13 and 6 years. Her business for the last 6 years has been selling foodstuff and maize (corn). She’s been a client of the institution for two years. She will use the loan to buy more foodstuff and maize (corn). She is requesting a loan of GHS 1100 to buy enough so that she can serve her customers sufficiently.
Adaibi, 56, sells fish and Patience, 47, sells rice, oil and egg, and together they need GHS 3100 to expand their 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.