The Kaay Bakh 6 loan group comprises four women. They are all involved in the business sector. They live in Senegal and are engaged in selling fish, vegetables, and second-hand clothing. They are represented by Ms. Fatou, who has been selling fish for several years. She is married and leaves her house at 6 in the morning every day, returning only at 3 in the afternoon. The group belongs to one of the branches of U-IMCEC. The members are seeking a loan of 350,000 Frs. to be used for the purchase of fish, vegetables, and clothing for resale. The group members' goal is to develop their respective businesses and increase their profits in order to better help their respective families.
Kaay Bakh 6 est un groupe de crédit qui est composé de 4 femmes. Elles évoluent dans le secteur du commerce. Elles habitent au Sénégal et s’activent dans la vente de poissons, de légumes et d’habits de friperie. Elles sont représentées par madame Fatou qui pratique la vente de poissons depuis plusieurs années. Elle est mariée et quitte chaque jour chez elle a 6 heures le matin pour ne revenir qu’a 15 heures dans l’après midi. Le groupe est membre d’un des guichets de l’U-IMCEC. Il sollicite un crédit de 350 000 frs prévu pour l’achat de poissons, de légumes, et d’habits qui sont destinés a la vente. Leur objectif est de développer les activités des membres respectifs du groupe, d’accroitre leurs bénéfices pour mieux assister leurs familles respectives.
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.