Aïda, age 45, is the group member standing on the right and raising her hand. She is the married mother of two boys and two girls. She sells fabrics and shoes, and she has extensive experience in this sector. She travels to large cities to purchase fabrics, shoes and milk.
With this loan, she plans to buy 10 cases of 48 cartons of milk for 100,000F CFA, 100,000 F worth of fabrics, and 75,000 F worth of shoes. The remainder of her loan will be used as working capital. She will use her profits to bolster her savings and to cover her children’s tuition fees.
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