Yesu Adom Group
Abigail sells used provisions and other foodstuff, and she displays her merchandise at her residence.
She is requesting a loan from ID Ghana in order to expand her business. She is going to buy canned products, rice, cooking oil, maize, cassava, meat, plantain and fish.
She started her business with some money received from her husband.
In the future, she would like to buy a plot of land and build on it. She also wants to educate and feed her children.
She thanks ID Ghana for its support of women entrepreneurs excluded from the traditional banking system, and for granting them loans without any collateral guarantee.
She, together with Margaret, need a total amount of GHS 5,300 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.
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