For 10 years now, Beatrice has been selling beans, gari, and plantains. This is the sixth loan cycle that Beatrice and her group members have applied for from ID-Ghana. With the help of this loan, they will be able to expand their respective businesses, make more sales, and consequently improve upon their living conditions.
They would need a total amount of GHS 2,900 and Beatrice will use her share of the loan (GHS 900) to expand her business. She will buy one bag of beans and one bag of gari and plantains to resell.
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