And Siggil Hann 1 Group
Siggil Hann 1 is a borrowing group of 12 women who live in the same neighborhood. They are represented by Mrs. Wolimata, a married woman with 10 years of commercial experience selling fabrics and juices. Additionally, she has been employed since 1997 as a sorter at a fishing company. She begins her day a 6 am and ends at 4 in the afternoon. The income that she gets from this activity allows her to have savings. She is member of one of the banking groups of UIMCEC where she has solicited a credit to buy clothes to sell. She envisions a future of traveling to a great country where she will important merchandise to resell.
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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