Krobor Bukom Group
Mercy O. is energetic lady who is 41 years old. She is married to 55-year-old fisherman and they have three children. She is very active and always cheerful. For the last ten years Mercy O. has been running a kenkey (corn paste) and fried fish vending business. She purchases corn and fish at wholesale price. She earns a monthly income of GHS 200 from her existing business, but that is not sufficient to manage the business expenses as well as the household expenses.
So Mercy O. wants to raise her income by increasing the volume of her business. She needs a loan of GHS 900 so that she can purchase enough corn and fish to prepare kenkey and fish to sell to customers. Mercy O. assumes that this will definitely generate a handsome amount of extra income. Mercy O. has a dream to save enough money for her family in a respectable manner.
The other three members of the group are Mercy A. with a cassava and corn dough business, Ayorkor with a fruit business and Grace with a firewood business. They need a total amount of GHS 4,400 to improve their 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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