Bok Jom Group
The leader of the group (who is wearing glasses) is mother to seven children of whom three go to school. She setup a table in front of her home from which she sells vegetables, mil [African cereal], ground nuts and other spices that are used in the preparation of daily meals to her customers. With her profits she takes care of her children's school fees and contributes every day to food expenses.
The group, in order to improve their income, is requesting from the UIMCEC a loan of 600,000f to buy bags of vegetables, mil [African cereal], ground nuts and various other spices.
About UIMCECThis 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.
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Success!! The loan was 100% repaid