His Majesty Group
Vida, who is 56 years, is married with two children who are still in school. She has been running a grocery shop for 20 years. She works from 7:00 a.m. to 9:00 p.m. daily and she is able to make a good monthly profit.
This will be Vida's 9th loan from ID-Ghana. She used the previous loans to increase the grocery stock (rice, milk, sugar, edible oil, spices, biscuits, soap, detergent and drinks) and has repaid back all her loans successfully. She used her profit to pay school fees and cover household expenses.
Vida will share this loan with her loan group "His Majesty Group," which has four members who will hold each other accountable for repaying back the loan amount of GHS 4100.
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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