The representative for the group, Gladys, is standing on the left in the picture. This is the sixth time that this group has sought financial support from ID Ghana, seeking to raise the level of their business activities.
Gladys is 51 years old and single. Her children are grown up and are living on their own. Gladys lives alone in a family house.
To take care of her household needs, Gladys has been selling fried yams and fish for seven years.
Wanting to reinforce her business and better respond to customers' demands, Gladys is requesting a sixth loan, along with the other members of the Ekomefeemo Group. All previous loans have been repaid in full.
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