Rose, who sells products such as maize, is very excited to receive her seventh loan from ID-Ghana, after having repaid her previous loans and thus taken a step towards expanding her business. With this loan, she is planning to use 800 GHS to purchase a bag of maize to sell to customers.
Rose says that her most important challenge and goal is to set up a distribution depot where she can sell all of her items instead of going outside and walking in her community and others nearby. She enjoys being at home with her long-term husband and three children. She is planning to reinvest her profits in her business and save for her future plans and challenges.
The group needs a total amount of 2,100 GHS to expand 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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