Onua Do Group
All the women want to build up their stock holding so they work with the field partner, ID-Ghana. This will be their seventh group loan.
Mercy (standing in the middle of the photo) has a strong reputation for selling pastries and bread. She plans to use her loan to buy flour, margarine, flavor, sugar, salt, yeast, and milk to bake pastries and bread. She will resell it for cash to customers from house to house. Mercy expects to make a good monthly profit, which she will use to pay for the school and healthcare costs of her children and also repay the loan and save some.
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