Akua is the featured borrower for this group. She is a 38-year-old, married mother of two children, a boy and a girl. She operates a cool store where she sells frozen fish and she buys her fish from the harbor. She sells these items for instant cash payment.
She will use this loan to buy about four cartons of fish, so that she can sell to customers.
The profits earned will allow her to help with her family’s daily expenses and to support part of her children’s tuition fees.
The other members of the group sell beans, rice, millet, charcoal, provisions, foodstuffs, and vegetables.
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