For Christ Group
The loan that they will take will benefit the small businesswomen, including Thoedora. She says that she joined ID Ghana two years ago, at the invitation of a friend who is a client of the institution. She has a business, selling fish for 21 years now.
The loan she will take out now is to increase capital by buying more fish from the fishermen and selling them to customers, at retail. This work allows her to generate resources for her family since she is married and has four dependent children.
When asked what she likes about ID Ghana, Thoedora said she likes the training, the savings, and the health programs offered by the institution.
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!