Gifty is 38 years old and married to a 48 year old draughtsman called Daniel. They have two children. She is a fish seller and has been taking loans from ID Ghana since 2010. She has been selling fish for 11 years now. She is a very business minded person, who needs finance to operate a mini cold store in her area. Customers in her area have to go about 300 meters to buy fish from the cold store. She wants to explore this business opportunity and make maximum profit.
This is her fifth loan, and she will need financial support of GHS 1,500 to stock her cold store with fish. She has been making a monthly profit of GHS 100, which she invests back into the business.
The group needs a total amount of GHS 4,400 to be able to buy more goods for their 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