Takku Liggey 3 Kahone Group
They get their supplies in the capital, located 82 km from their town. They resell retail either at their home, or on the weekly markets taking place all along the week in their region.
The income earned from their businesses enables the members of the group to provide for themselves, and most importantly, feed their families.
The group leader (in red) built a stand in front of her home to sell her merchandise. She offers her customers pants, dresses and woven pagnes (colorful African wax cloth). She is the mother of three children, whose school fees and clothing expenses she covers.
In order to bolster their working capital, they are seeking a loan of XOF 500'000 to buy clothes.
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