Florence is a fifth loan borrower who sells ready-made dresses, with six years of working experience. Florence needs a loan of 800 GHS to be able to buy more dresses from the market at wholesale prices and to sell retail to her customers.
Florence is 32 years old, as is her husband. They have two children together.
She has been making enough profit from the previous loans and her expectation is to own the biggest retail shop in Teshie.
Florence's group needs a total amount of 3250 GHS to enable them to expand 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