Dior is the representative of the group. She is 45, married, and the mother of six children, two boys aged 27 and 24 years, and four girls aged 30, 23, 20, and 17 years. She is a merchant of cosmetics and general food supplies. With this loan she plans to buy 200,000 Francs worth of cosmetics and crockery, ten 20 kg buckets of peanuts at 220,000 Francs, and ten 20-liter bottles of oil at 100,000 Francs. She buys her merchandise at wholesale and supplies the merchants at the village market.
With the income she earns, Dior will pay for her daughter's school fees. She also plans to increase her savings in the Banc Villageois and help her husband with the rent payments for their marital home.
About CAURIE Micro FinanceThe mission of CAURIE Micro Finance is to contribute sustainably and to offer microfinance services adapted to impoverished micro-entrepreneurs, primarily women, based on the principles of ‘credit for the poor’ and on microfinance best practices, all while investing in order to become financially independent.
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