The members of the group live in the same neighborhood in Benin. In order to bolster their working capital, the members of the group are seeking a loan from Kiva's partner, ALIDé.
Houéssamana Lydia, age 42, is married to François. The couple has four school-attending children they have to support. Houéssamana Lydia and her husband provide for the family expenses together.
In order to provide for herself and her children, Houéssamana Lydia sells local soap as a traveling saleswoman. As a secondary business, she also sells vegetable oil. She's been doing so for almost five years, which enables her to provide for the various expenses of her family.
She gets her supplies in one of Benin's largest markets. This loan will certainly help her and the other members of the group to bolster their businesses and increase their clientele and income.
About AlidéAlidé is a Beninese NGO that works to reduce poverty by offering sustainable access to productive loans like this one in addition to savings, training sessions, and social work to low-income families.
Supporters of this loan should be aware that there is some risk of being repaid late. Because the Beninois Ministry of Finance has imposed restrictions on the amount of money Alidé can send to Kiva, the organization can only send monthly repayments in installments smaller than $13,000. This means that some Kiva lenders may receive their repayments late. However, Alidé remains a healthy institution in good standing with its creditors, and Kiva would like to continue working to support its clients. For more information, please refer to Alidé's partner profile page.
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