Gifty O. is a professional hair dresser. She is 30 years old, married and has three daughters. Two of her daughters are currently in primary school while the last born has not started school. She lives with her husband and children in a rented apartment in a community called Kofiase. It is a farming and trading community near Dormaa, the district capital, in the Brong Ahafo region. Her husband is a mason by trade. Her saloon is located on the principal street of her community where she serves her numerous clients. Gifty says she has four apprentices under training, equipping them with skills to manage their own saloon soon. She wants a loan to buy working tools and materials such as pomades, lotions, creams, weavons, mesh etc. to improve her services to her clients. She started her operation three years ago. She is expecting to improve her income to support her family.
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.