Dorcas runs a plastic products business in front of her house. The business has been in operation for 25 years. She says the main challenge she is facing is that of stiff competition.
Dorcas has requested a loan of GHS 900 in order to purchase plastic items to resell. She says the extra income generated as a result of this loan will allow her an increase in income and, therefore, improve her grandchildren's lives. In the future, Dorcas plans to open a shop in town.
Dorcas Group needs a total of amount of GHS 1700 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