Yehowa Adom Group
Eunice is the featured borrower. She is engaged in the buying and selling of soft drinks. She has been in this type of small-scale commerce for several years and is highly sought-after.
In order to meet the growing need of their customers, the group members decided to join the ID-Ghana's loan program. They are on their seventh group loan.
Eunice plans to use her loan to buy 10 cartons of Coca-Cola, Fanta, Sprite and Malta Guinness to sell to customers. She procures her goods from the wholesaler depot in Accra. She hopes to earn a good monthly profit, which will allow her to repay the loan and to reinvest in her business of selling soft drinks.
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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Success!! The loan was 100% repaid