Book Yeugue Group
Farma has over five years of experience. She is married and the mother of seven children. This is her first experience with a loan, and she hopes it will allow her to improve her business selling local dyed fabrics (Thioub) and to improve the health and nutrition of her family.
With this loan Farma plans to improve and diversify her products for sale. Farma starts her day at 8 am and finishes working at 6 pm. She wants to expand her business to the point where she no longer needs to rely on loans.
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