Mareme is the group's representative. She is married and the mother of an 8-year-old son and a 10-year-old daughter.
Mareme sells fabrics. She plans to use her loan to buy three pieces of damask fabric for a total of 270,000 francs, as well as some silk for 205,000 francs. She has been involved in this activity for five years and has a good experience in her field. She is doing quite well and is well-known as a fabric seller.
She uses her profits to take care of her own needs and to constantly increase her stock of merchandise. Her husband is the one managing all the household's expenses.
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