One of the members of the group is Faustina who is in her third loan cycle with ID-Ghana. She likes the group because all the members are good friends. The loans allow her to improve her family's economic stability.
Faustina, 38, is married and has two children, ages 14 and 6. They are schooling. Her husband is also a businessman who normally assists her with sales at home. Faustina has been selling 'silver' cooking utensils for six years.
She plans to use the loan amount of GHS 1000 to buy more 'silver' products to sell to customers. Her dream is for her children to become professionals.
Faustina is standing on the far left in the photograph.
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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