Makarimal Akhlakh Groupe 43
As a consequence, Makarimal Akhlakh groupe 43 is the loan subgroup of the economic interest group, which is made up of ten women represented by the woman Fatou (the one with her hand raised in the photo). They work together in the same zone. Fatou is a single woman and got started more than five years ago in the business sector, making sales of food and jewelry products. She starts off each day's business at 7:00 in the morning in order to finish at 9:00 in the evening The revenues that her business brings in allow her to save money in the hopes of making her project of building a new house in the future come true.
More information about this loan
To reach women borrowers who would not normally qualify for loans, UIMCEC has developed partnerships with a number of local organizations created by the poor to promote savings and mutual support. Previously, UIMCEC was unable to serve these borrowers because they could not provide a guarantee or afford to pay standard interest rates. By supporting this loan, you are helping poor borrowers access credit at lower interest rates.
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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