Sud Alimimium is a company made up of young people and headed by Cheikh Tidiane. They have a workshop which allows them to respond to customer demand at the same time as training young people. Through this business, the two partners earn their daily bread. They are now requesting a loan to improve their workshop.
Sud Alimimium est une societe, compose de jeunes, et dirige par Cheikh Tidiane. Ils ont un atelier, qui leur permet de repondre a la demande de la clientele tout en formant des jeunes. Grace a ces activites les deux associes gagne leur pain quotidien. A present, ils sollicite un pret pour renforcer leur atelier.
This 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.