Florence is the group representative who sells wax-prints and is 33 years old. She is married to a carpenter and they have two children. With her loan share of GHS 1,500, she intends to purchase different fabric of wax-prints to stock her business from the wholesalers in Accra.
Florence retails her merchandise at the market and from her home, for cash and not on credit. She hopes to earn good profit on this cycle of purchase, which will be used to reinvest in her business and repay her loan.
They need a total loan amount of GHS 7,200 at this level of the loan cycle.
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