Elizabeth is 28 years old, single, and she has no child. She has been selling wigs for 8 years now. She is single and preparing for marriage; therefore, she has to work hard to be able to become a good wife and also to sustain her expenses currently. Things are going well for her business, and she gets her goods from the central market. Her dream is to expand her shop so she can sell more wigs, and is asking for a loan amount of 2000 GHS to help reach this goal.
The other member of the group is Anthony. He sells home appliances, and together they need 4800 GHS to improve their businesses.
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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