Shadrack is a 29-year-old single man. He describes himself as creative and persistent. He operates a second-hand shoe and block business where he sells the shoes and blocks at a profit. He has been involved in this business for six years. He business is located in a busy environment. He describes his biggest business challenge as inadequate capital to expand the business. He will need a 1,000 GHS loan to add more shoes and cement to his business. This is his seventh loan application with ID-Ghana.
Together with Fuatina, he needs a total amount of 2500 GHS to improve businesses. They are part of a mother group called Thy Will.
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.