This group is made up of five women who all live in the same village and who all buy and sell vegetables and fish products. They have plenty of experience; several of them have been in the business for 10-15 years.
Saly (who is the woman with the big smile in the photo) is the group's president. She is 52 years old, married, and a mother. She will use the loan to buy vegetables: carrots, turnips, eggplant, etc. She will also buy smoked and dried fish. She will then resell her goods at the local market, where she has a food stand.
She has 10 years of experience in this line of business. She works actively to help cover her family's daily expenses. Since she has regular customers, she would like to acquire a stable base so that she can meet the needs of all of her customers. To do so, she requires the assistance of the IMCEC.
Ceci est un groupement qui rassemble cinq femmes qui habitent le même village et qui font du commerce de légumes et de produits halieutiques. Elles sont expérimentées car plusieurs d’entre elles ont fait entre 10 et 15 d’activité. Leur présidente, la dame Saly très souriante sur la photo, est âgée de 52 ans, mariée et mère de famille. Avec le crédit qu’elle va recevoir, elle ira acheter des légumes : carottes, navets, aubergines… Elle achètera aussi du poisson fumé et séché, tout cela pour revendre sur le marché local car elle possède une cantine. Elle a une expérience de 10 ans dans ce domaine d’activité. Elle ne reste pas les bras croisés car elle participe à la dépense quotidienne de la famille. Puisqu’elle a une clientèle régulière, elle aimerait acquérir un fond stable afin de pouvoir les satisfaire à temps pour cela elle a besoin de l’appui de l’IMCEC.
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.