The Kaay Bakh 5 group comprises five women who live in the same area in Senegal. They all run the same type of business and sell fish, fatayas (fish patties), jewelry, sheets, and perfume. The group is represented by Ms. Khoudia, who has extensive experience selling fish. She spends the whole day at her workplace and her ambition is to make her business more profitable. The group belongs to a local branch of U-IMCEC. The group members are seeking a loan of 500,000 Frs destined for the purchase of jewelry, perfume, flour, and fish in order to develop each member's business, increase their respective profits, and improve their standard of living.
Le groupe Kaay Bakh 5 est composé de 5 femmes qui habitent au Sénégal et vivent dans la même localité. Elles exercent toutes la même activité de commerce et s’adonnent à la vente de poissons, de fataya, de bijoux, de draps et de parfums. Elles sont représentées par madame Khoudia qui est très expérimentée dans la vente de poissons. Elle passe toute sa journée à son lieu de travail et ambitionne de mieux rentabiliser son activité. Le groupe est sociétaire de l’un des guichets de l’U-IMCEC. Il sollicite un crédit de 500 000 frs prévu pour l’achat de bijoux, parfums, farine et poissons destinés a développer les activités de chaque membre du groupe, a accroitre leurs bénéfices respectifs et a améliorer les conditions de vie sociale de ces dernières.
This loan is administered by UIMCEC, a Kiva Field Partner in Senegal since 2008. UIMCEC is a government-regulated microfinance institution whose mission is to improve the revenue and well-being of families through access to financial services, allowing principally women and young adult micro-entrepreneurs living in rural and semi-rural areas to develop their revenue-generating businesses and supporting them in becoming financially self-sufficient.
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.