Book Jom Taiba Mbaye 3 Group
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.
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