The loan they are requesting will benefit small business owners like George (standing first from left in the photo). Currently, he has a business selling fishing nets. This business was handed over to him by his father who is old now and he wants to build this business. He is requesting GHS 800 to buy fishing nets which he can resell to customers (fishermen). This type of work allows him to generate income to support his family since he is married with three children.
When asked what he likes about ID-Ghana, he responded that he likes working with the group and the savings he makes with the organization. They need a total loan amount of 3,100 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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