Christo's 2 Group
Elizabeth is excited to be taking out her first loan with ID-Ghana through Kiva. She sells vegetables including tomatos, onions, garden eggs and also cassava and rice etc. She has been in this business for four years. She plans to use the loan amount of GHS 400 to buy vegetables, rice and cassava to sell to customers. She will save part of the profit and use the remainder to provide for her children and home.
In the near future, Elizabeth wants to build her own house. She dreams of becoming a professional and having a successful business.
The group needs a total amount of GHS 3,800 to support their businesses which include buying and selling wigs, second hand clothing, selling bed sheets, tomato, cassava, flour, soap and soft drinks.
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