These six members led by Esther as the representative, are part of the group called Overflowing The businesses that the members of this group are engaged in include selling second hand clothing, groceries, cement and gari (cassava flour). They will need a total amount of GHS 11,100 to expand their businesses. The loan will benefit this group of micro-businesswomen, of which Esther is a member. Esther says that she joined ID-Ghana four years ago and became a founding member of this group. This is her eighth loan request to Kiva and her fifth loan cycle with ID-Ghana.
She currently has a business selling second hand clothing. Esther will use her part of this loan, GHS 2400, to increase her capital. She will buy two bales of second hand clothing to sell to customers. She will sell them by hawking to her customers. This work allows her to make an income for her family. Esther is 50 years old, married and has four children. When asked what she likes about ID-Ghana, Esther replied that she likes the health insurance services and the training sessions. She says her loans have made it possible to take care of her children and her needs, by saving part of her profits and reinvesting the other part in her business.
About ID Ghana
ID 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.