The "Association Dental 17" group comprises five women who are active in commerce. For the second time they are seeking a loan for 500,000 FCFA.
Their president is lady Oumy, who sells various products, such as peanut butter, palm oil and many other products that can generate a profit. Thanks to the loan, she will expand her business so she can help her husband deal with household expenses. If she sees her business grow she may consider starting a parallel activity to maximize her profits.
Le groupement »Association Dental 17 » regroupe 5 femmes qui évoluent dans le commerce. Elles viennent pour la seconde fois solliciter un crédit de 500000FCFA. Elles ont comme présidente, la dame Oumy, qui fait de la vente de produits divers comme de la pâte d'arachide, de l'huile de palme et tout autre produit qui peut générer un profit. Grâce au crédit, elle pourra développer son activité afin de pouvoir aider son mari dans la dépense de la maison. Si elle voit son commerce se développer elle pourra penser faire une activité parallèle pour maximiser son profit.
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.