Makarimal Akhlakh Gpe 44 Group
Makarimal Akhlakh Gpe 44 Group is a sub-lending group of the EIG, made up of 10 women represented by Mareme (the lady with her hand raised in the photo). They live in the same area and are all advancing in the same business sector.
Mareme is a married woman who has been working in trade for more than 30 years, selling fabric and other various goods. She also devotes herself to fashion. The profits her businesses provide allow her to contribute to the management of daily expenses at home, in support of her husband. She begins work at 8am every day and finishes at 4pm.
Mareme is a member of a local branch of UIMCEC, where she is seeking a loan with the goal of increasing her working capital in order to better grow her business in trade. She wishes to purchase foodstuffs (potatoes, onions, and dried fish, which will be sold). Her aim is to increase her profits in order to better support her family, but [also] to save more money so that in the future she can acquire large shops for the sale of fabric.
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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