"SOP SA DIEUKEUR 1" is a community bank made up of women who are mostly married and mothers. They work selling fabric, outfits and sewing supplies. They buy wholesale in order to reduce their expenses and then share the merchandise out according to how much money each member put in. This business allows them to cover their needs but also, above all, it allows them to work alongside their husbands in covering their family expenses and supporting their families. In order to strengthen their working capital, they are requesting a loan for 450,000 francs to buy fabric and sewing supplies.
"SOP SA DIEUKEUR 1" est un groupe de solidarité qui se compose de femmes pour la plupart mariées et mères de famille. Elles s'activent dans le commerce de tissus, d'habits et d'articles de mercerie.Elles achètent en gros pour amoindrir les frais et se partagent les marchandises en fonction de la part de chacune dans le capital.
Ce commerce leur permet de subvenir à leurs besoins mais aussi et surtout de participer à côté de leurs maris à la prise en charge des dépenses d'entretien de leurs familles respectives. Afin de renforcer leurs fonds de commerce, elles sollicitent un pret de 450000f pour acheter des tissus et des articles de mercerie.
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.