Esther is a mother of six children between 1 and 15. According to her, all but the last born are currently in school.
She works very hard to support her husband in providing for the family. She is a food vendor. Esther has run a chop (food) bar for four years.
She desires to establish a modern restaurant and educate her children to the university level.
Since trading is a source of livelihood to many in most communities in Ghana, others members of the group are into all kinds of trading activities.
The group requests the loan to enable them procure goods and raw materials in bulk to revamp their businesses.
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