Matilda, 46, is married and has two children who are at school. Taking over her mother's trade, since she had been making a living in this activity, Alexandra decided to sell ‘kenkey’ (cooked corn paste) and fried fish at a small market at Teshie. She feels happy because ID-Ghana has come with this loan facility which has helped her household.
Her keenest desire is to own a grocery store as in this way she will have better profits. The loan sought will be allocated to buying more maize and fish to meet customers' demand.
Matilda’s group needs an amount of GHC 1,650 to help them increase their stock.
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