Gifty, the group's representative, is 44 years old and married to a man named Alex with whom she has two children. Both children are in school and are their dependents. Gifty lives with her husband and children and jointly takes care of the various household expenses with her husband.
Gifty did not go to school but received non-formal education called adult education. She can read and write therefore, which gives her the privilege to transact business with her customers. In order to contribute to the household's various expenses, she has been selling cooking utensils, silver products and plastic chairs, from her home, for the past twenty years. These products are procured from the market at wholesale prices.
In order to satisfy the needs of her customers, and to increase her turnover and income, she is requesting this loan from Kiva through ID-Ghana, along with the other members of Gifty's group. Their previous loans were duly repaid without problem. They need a total amount of GHS 6700 to be able to serve their customers better.
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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