Yesu Adom Group
Princilla is a 45-year-old woman living with her husband and her four children, who attend school. Her husband works as a plumber in a factory situated in Accra. Princilla runs a grocery shop to help her husband financially. She sells rice, grains, lentils, edible oil, spices, biscuits, soap, detergent and drinks in her shop. Princilla has developed a very good relationship with her customers in her community. She likes the fact that she can cater to the needs of the people in her community.
Princilla has a plan to make her shop bigger and to keep multiple items in her shop to satisfy her customers. She also wants to purchase the items in bulk directly from the wholesalers. She has requested a loan for purchasing items such as rice, grains, edible oil, spices, biscuits, soap, detergent and drinks so that she can serve her customers better.
Princilla and her colleagues need a total amount of GHS 4,500 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.
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