The loan will increase her work capital so she can buy more provisions in the city of Accra. She will sell her products on order. This work allows her to earn enough income to support her household. She is married and has two children. When asked what she likes about ID-Ghana, she says it is the soft loan, savings, and training in credit and health. They will need a total amount of GHS 9800 to expand 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.
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