Augusta is a 53-year-old single woman who sells rice, yams, and vegetables. She has been doing this work for 9 years and is in her 5th loan cycle with ID-Ghana. Her 4th loan amount was 800 Ghana, which was used to buy items and sell to customers. She now needs 900 Ghana cedis to invest in the business so that she can increase stock to meet customer demands. She will build her own house in the future. She also invests all her profits back into the business.
They need 2900 Ghana cedis to be able to expand businesses.
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