This group is made up of four members, and the featured borrower is Monica. She is 39 years old, married and a mother. She sells plantains at her residence. She has the help of her family in buying and selling the products she offers. She is requesting a loan to purchase the basic food item called plantain, which she will sell to customers.
The other members of the group are: Vida, who is 42 years old and sells panties through hawking; Comfort, who is 34 years old and sells secondhand clothing through hawking; and Janet, who is 31 years old and sells soft drinks at the market.
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.