Makarimal Akhlakh Yoff 35 Group
Mame Dado is a member of a U-IMCEC branch where she is requesting a loan to bolster her working capital, so that she may be able to increase the amount of her various goods (fabrics, shoes, bracelets, … etc.) that she offers to her customers. The profitability of this financing will enable her to improve her family's food situation and to save more money to cope with the unexpected. Beyond this, she would like to obtain a larger loan enabling her to import transportainers.
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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