Bata Yacine's Group
Magatte Mamadou (standing at the right in the photo) is the group's official. She is 38 years old and has four children to support. She has a business selling clothing. Parallel to this, she fattens sheep. She has been doing this work for a long time.
Her loan will enable her to purchase merchandise: 10 lengths of cloth, 10 packets of accessories for 'pagnes' (the colorful cloth of western Africa), and some sheep for business purposes and for satisfying her customers. Her goal is to support her family and to bolster her savings at every group meeting.
About CAURIE Micro FinanceThe mission of CAURIE Micro Finance is to contribute sustainably and to offer microfinance services adapted to impoverished micro-entrepreneurs, primarily women, based on the principles of ‘credit for the poor’ and on microfinance best practices, all while investing in order to become financially independent.
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