Top Class 2 Group
Group members are small retail merchants dealing in all kinds of foodstuffs, underwear, cassava dough and gari (cassava flour).
To increase their stock supply, the group decided to work with ID-Ghana and are in their fourth group loan cycle.
Irene has a great reputation at selling foodstuffs. She intends to use her loan to buy foodstuffs to sell to customers from the wholesale market.
Irene hopes to achieve with this loan a good monthly profit to be reinvested in the business. She aims to buy a plot of land for residential use through her relationship with ID-Ghana.
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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This loan has been fully funded!