Eunice has been selling frozen chicken, pig feet, and cooking utensils for thirteen years with the help of her husband. She started the business with a low profile, selling just cooking utensils, but gradually she expanded. Eunice needs an amount of GHS 1200 to buy a deep freezer so that she can store her chicken and pig feet. Through her last six loans from ID-Ghana and the support of her husband, she has grown her business year after year. She now earns GHS 400 month from her business, but that is not sufficient for her to manage it.
Eunice dreams of providing better education for her two children. With this loan, she expects to increase her sales, and that income will help ensure their education and welfare.
The other four members of her group are Diana, Charllote, Tsotsoo, and Patience, who run businesses in fish, provisions, detergent, maize, and ladies footwear, respectively.
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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