Augustina is a 43-year-old married woman and a mother of two. Her main business is to supply vegetables especially okra to vegetable sellers in Accra. She buys the items from the eastern part of the country where she comes from and supplies them to customers in Accra where she lives. Both her children are going to school.
Augustina is sometimes supported by her husband who is a civil servant. Her main clients are basically vegetable traders in Accra. Augustina is determined to use the loan of GHS 600 from Kiva partner ID-Ghana to change her life and that of her family by investing it in her vegetable business. She is on her third loan cycle with ID-Ghana and has repaid all previous loans without trouble.
The group needs a total amount of GHS 1,500 so that they can increase their stock and serve their customers better.
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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