The loan they are requesting will benefit small business owner Matilda (standing third from left in the photo). She joined 'Together' two years ago at the invitation of a friend who is a member of the group. Currently, she has a business selling different kinds of drinks from a small bar at her residence. She says she started this business on the advice of her parents. She buys the drinks from the wholesale depot and resells to customers. She is requesting this loan to increase her merchandise and to purchase more drinks to sell. This type of work allows her to generate an income to support her family since she is married with three children.
When asked what she likes about ID Ghana, she responded that she likes working with the group and the savings opportunities with the organization. The group needs a total loan amount of 4,600 GHS to increase their stock.
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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