With this loan, Fatou plans to purchase 40 50-kg bags of millet at 6,250 francs CFA each, 3 bags of sugar at 27,500 francs CFA each, 5 bags of rice at 15,000 francs CFA each, and 2 cases of oil at 60,000 francs CFA. Her profits will allow her to save with the "banc villageois" and to pay for the schooling and food for her household, since her husband does not work and she cares for the household needs by herself.
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