Esther has been selling fish for eight years. She works from 6:00 am to 6:00 pm daily, and is able to make a good monthly profit.
This will be Esther's second loan from ID-Ghana. She used the previous loan to buy fish, and she has repaid back her loan successfully. She is happy with the loan and doing great. She used the profit to pay school fees and household expenses, and to invest into her business.
She will use this new loan to buy more fish and sell to customers. She dreams of owning a cold store so that she can supply fish to people around her area.
Esther will share this loan with her borrowing group members, which has a total of five members. They will hold each other accountable for repaying the loan.
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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