This loan will benefit the small micro-businesses where Mary A. is a member. She says that four years ago, ID-Ghana was integrated into the group due to an invitation from a colleague that is a client of the institution. Now she has a business selling smoked fish. She actually began this business many years ago but was able to increase her sales by selling in the market.
Together with her friends she will take this loan to expand their businesses so as to satisfy customers better. She will buy four cartons of fish to smoke and sell to customers, and eventually improve her retail space. This work enables her to generate income so that she can support herself, since she is single with all her children grown up and living on their own.
When we asked what she liked about ID-Ghana, Mary A. responded that she likes the training offered.
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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Success!! The loan was 100% repaid