One of the members is Lartorkor who is a 31-years-old married woman with two sons. She hawks from 8am to 4pm through Teshie and its environs, selling silver products including cooking utensils. She has had the business for 6 years and it is going well. Through this business, she is able to provide for her sons. Her dream is to have premises where she can buy from suppliers and retail to other retail customers including plastic chairs, plates etc. She is asking for a loan to buy cooking utensils at wholesale.
Lartorkor is standing at extreme right in the photograph with the silver sieve in her hand.
The other group members earn a living from businesses selling Kenkey (maize paste), assorted soaps and smoked fish.
Lartorkor thanks everyone who helps her to realize her dream by providing the loan and promises to keep up with the repayment of her loan installments in the agreed time frame.
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