He is developing his craft. He is asking for a loan in the amount of 400,000F in order to buy iron and aluminum to make cooking pots. He manages his family's daily expenses as well as the schooling fees for his children.
He has more than 20 years experience in his business. He starts working at 9 am and stops at 6pm. In the future, he would like to have a aluminum pot factory so that he could have a monopoly on the market. That way, he could save money, improve his family's living conditions, and renovate his home.
More information about this loan
To reach 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. Most members of these organizations take group loans from UIMCEC. Some group members have larger businesses requiring more capital, and therefore receive individual loans. To meet their needs, UIMCEC is offering this loan at a lower interest rate with no material guarantee requirement. 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.
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