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Magnificat Group
In this Group: Totchémé Elodie, Jeanne Akouavi, Adegbola Pauline
MAGNIFICAT is a group made up of three people coming from the same family. The representative of the group (pictured with her hand raised), Totchémé Elodie, is 39 years old and married to a man named Nestor. The couple takes care of seven children, four of whom are their own. Some of the children are attending school. Totchémé Elodie lives together with her husband and children. She and her husband both provide for household needs.

Totchémé Elodie left school at the primary level. To make ends meet, Totchémé Elodie learned how to sew and has now been working as a seamstress for six years. Totchémé Elodie earns a secondary income as well selling essentials and sewing materials out of her home. Totchémé Elodie buys her stock at a market in Benin.

In order to better respond to the demands of her growing clientele and to earn more profit, Totchémé Elodie, along with the other members of the MAGNIFICAT Group, is asking for a fourth loan through ALIDé. The loans they previously received were properly repaid.
View original language description ↓
MAGNIFICAT est un groupe composé de trois personnes qui sont des membres de la même famille. La représentante du groupe du nom de Totchémé Elodie (dont la main est levée sur la photo), est âgée de 39 ans. Totchémé Elodie est mariée à un certain Nestor. Le couple a sept enfants à leur charge dont quatre constituent leurs propres enfants. Certains enfants sont scolarisés. Totchémé Elodie vit ensemble avec son enfant et son mari et assure ensemble avec lui, les charges de la maison. Totchémé Elodie a arrêté l’école au niveau primaire. Pour faire face à ses différentes charges, Totchémé Elodie a appris la couture et exerce ce métier depuis six ans. De façon secondaire Totchémé Elodie mène comme activité la vente de vivres et des articles de mercerie à son domicile. Totchémé Elodie s’approvisionne dans un marché du Bénin. Dans le but de mieux répondre aux exigences de sa clientèle de plus en plus nombreuses et de se faire plus de profit, Totchémé Elodie sollicite, ensemble avec les autres membres du groupe MAGNIFICAT un quatrième crédit auprès de ALIDé. Les crédits reçus antérieurement ont été bien remboursés.

Additional Information

About Alidé

Alidé 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.

About Benin

  • $1,600
    Average annual income
  • 0
    View loans »
    Benin Loans Fundraising
  • $4,467,950
    Funds lent in using Kiva
  • 498.0
    Communauté Financière Africaine Francs BCEAO (XOF) = $1 USD

Success!! The loan was 100% repaid

A portion of Magnificat Group's $750 loan helped a member to purchase sewing supplies and grains.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 15, 2012
Listed
Apr 13, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 19, 2013