Josephine is 40 years old. She is married to Peter, a 45-year-old electrician.They have two children. Josephine has had education to the secondary school level and the leader of her group. She together with her husband ensure that the household expenses are covered. To meet the needs of her family, she has been selling sugar and maize for about eleven years in front of her house. Seeking to satisfy her customer and to increase her income, Josephine, together with the other members of the group, is requesting a fifth loan. The previous loans were indeed repaid without any default. The entire group needs GHS 4,200 to buy more goods to satisfy their respective customers.
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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