Charllote is a 43-year-old trader married to a 49-year-old driver, and they have a 19-year-old girl. She operates a small cold store and a provision shop where she sells fruits, vegetables, chicken, meat, fish, rice, sugar and sardines. She paid back her previous loan amount of 700 Ghana cedis successfully, and now she needs 900 Ghana cedis to stock her shop by buying more provisions, meat and fish. This is her fifth loan cycle with ID-Ghana, and she is very loyal to the microfinance institution. She has been reinvesting her profit that she makes from sales.
They need a total amount of 4,800 Ghana cedis to be able to buy more commodities.
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