The group representative, Georgina (the female in the photo), is 31 years old and married to Joseph, a block seller. The couple lives with their five children, all in school. Georgina attended school to elementary level. The couple provides for the household together.
For close to two years, Georgina has sold cement in a kiosk at her home. She gets her supplies at a city in Ghana. This is the third time Georgina and the other members of the lending group are seeking financial support from ID-Ghana with the goal of diversifying their businesses and better responding to the needs of their clients. The previous loan were repaid properly.
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