One of them is a woman named Faustina. She is 41-years-old, married and has been selling chicken and cow meat from her home for the past 14 years. Faustina started her business by selling only fish and now the business has grown through different levels of loan cycles. She continues to currently operate a frozen food business. Her loan will be invested in the purchase of cartons of chicken meat, mutton and fish to sell to customers.
The group has been taken through training, monitoring and guardians. They will need a total amount of GHS 5,500 to expand their businesses.
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