Koshie says that she joined ID-Ghana four years ago and became a founding member of this group. This is her second loan request to Kiva, and fifth loan cycle with ID-Ghana. Koshie is standing in the middle in the photograph.
She currently has a business selling provisions and cosmetics. She started this business three years ago, on her own initiative. Before that, she was selling jeans. Koshie will use her part of this loan, GHS 1500, to increase her capital. She will buy items from the market, including body cream, hair cream, baby Pampers, and fruit drinks. She will sell them, by hawking to her customers. This work allows her to make an income for her family. Koshie is 30 years old, single, and has three children. When asked what she likes about ID-Ghana, Koshie replied that she likes the health insurance services and the training sessions. She says her loans have made it possible to take care of her children and her needs, by saving part of her profits and reinvestment of the other part, in her business.
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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