“Ekomefeemo 2” is a trading group from Teshie-Accra. This is its fourth loan cycle with ID-Ghana and second with kiva. They are selling second-hand clothing, provisions, plates, cups, cooking utensils, rice, beans, groundnuts, fish, Kenkey, and plastic items. They need a total amount of GHS 10700 to be able to serve customers better.
One of the members is Setina, who sells plates, cups, and plastic products. She has been able to make improvements in her life. All of this has been possible because she always offers good products and her customers like her. She also works to help cover her family expenses. She is married to Eric, and they have one child.
Setina is requesting a loan amount of GHS 500 so that she can invest in the purchase of plates, cups, and plastic product and sell them to her customers. This will help her to always provide them with a good variety.
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.