The ASC Lion is an association that has been active in the agricultural sector for some years now. The association is represented by two brothers, Abass and Babacar. The association has a common land plot that its members would like to utilize. With the loan obtained from IMCEC, the association members will be able to buy millet seed fertilizers and urea. The revenues derived from this business will allow them to develop other emerging business activities, such as retail, animal husbandry and vegetable gardening. The association has a social component to its activities, helping the most disadvantage children improve their life conditions and obtain an education. The association has always needed financial support in order to manage its activities well, which is why it is collaborating with IMCEC.
L’ASC Lion est le nom donné à une association qui évolue dans le secteur de l’agriculture depuis plusieurs années déjà. L’association est représentée par deux frères Abass et Babacar. L’association possède un champ en commun qu’elle veut mettre en valeur. Avec le crédit octroyé par l’IMCEC, ils vont pouvoir acheter des semences de mil, de l’engrais et de l’urée. Les bénéfices tirés de l’activité serviront à développer d’autres activités naissantes dans l’association comme le commerce, l’élevage, la culture maraichère… L’association possède un volet social qui intervient dans l’insertion des enfants les plus démunis et vise à améliorer leurs conditions de vie et leur éducation. L’association aura toujours besoin d’un appui financier pour mener à bien ses activités, c’est pourquoi elle collabore étroitement avec l’IMCEC.
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.