Booku Juboo Kahone Group
The group responsible is lady Penda who has been selling incense and beads for over ten years. Lady Penda also breeds a few broiler chickens she sells in the neighborhood and surrounding areas.
They are on their third credit loan with IMCEC and want a renewal of 750,000 FCFA to improve their business activities.
Penda participates in household daily expenditures. She wishes to acquire a large chicken coop and increase her production.
Elles en sont à leur 3ème crédit à l’IMCEC et veulent un renouvellement de 750000F CFA pour améliorer leur activité.
Penda participe à la dépense quotidienne du foyer. Elle a comme souhait d’acquérir un grand poulailler et d’augmenter le nombre de production.
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