Megyefo Nyame Group
Abena lives with her husband and has two children. All of them go to school and all of them are dependent on them. Abena and her husband are responsible for the family expenses. She did not go to school.
Abena has been selling Shea butter and other creams for both body and hair in her neighborhood, which enables her to provide for her family. She buys her stock at a market in Ghana.
Hoping to improve service to her customers, Abena and the other members of the Megyefo Nyame group request a seventh loan from ID-Ghana. The previous loans were correctly repaid.
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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