Greda Trader's Two Group
The Greda Trader's Two Group consists of six members from the original Greda Trader's Group created on November 23rd, 2011. It is composed of five women and one man from the Greda Estate at Teshie. They all work in commerce, and maintain good relationships within the group. The group needs a total of GHS 6,800 to expand their businesses in the second stage of loan cycle from Kiva.
Emmanuel is shown at the back of the group balancing a car tyre on his head. He is 43 years old and married with three children, all boys. The oldest of his children is 11, and the youngest is 5. Emmanuel sells tyres of various kinds and also spare parts for cars. With this loan, he is going to buy three sets of car tyres worth GHS 2,000, but will need GHS 1,500 from Kiva so that he can top up with GHS 500. The profits he gets will be used to bolster his savings at the ID Ghana, and help his to take care of his family.
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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