The loan for which they are applying will benefit small enterprises such as Naomi's business. She says that she has been with ID-Ghana for five loan cycles, joining on the invitation of a credit officer of the institution who came to visit her in her home. Currently, she has a business supplying fresh fish. This is a business she inherited from her mother, who worked in the same field. Naomi is standing on the far right in the photograph.
Naomi is requesting a loan amount of GHS 1,000 to buy and supply fresh fish to customers. She will acquire from the fishing harbor in Tema, Ghana. This kind of work allows her to generate resources to support her household as quickly as possible, since her husband is unemployed now and her two children are of school-going ages.
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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