The women in this group sell plantains, spices, secondhand clothing, sanitary pads, various provisions, sachet water and jeans. They are on their fifth group loan with ID Ghana. They are applying for a 4,950 GHS loan so they will be able to expand their businesses.
Diana herself is a 39-year-old plantain and spices seller. She is planning to buy more plantains and spices from the market in Accra. She will resell her merchandise at retail to both men and women. She is expecting to make an average monthly profit of 100 GHS, which will be used to meet the needs of her family. A part of her profits will also be reinvested in her business.
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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