Matilda is the leader of this group and this is her second loan cycle with kiva and her forth loan cycle with ID-Ghana. She is applying for a loan amount of GH 1,500 to buy six boxes of coca-cola and six boxes of malta guinness to sell to customers. She hopes to grow her capital, ensure her daughter reaches the highest level of education and support her husband to complete their building project. Janet, the other group member is also a drinking spot operator. Together they will need a total amount of GH 2,900 to improve 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