Madame Dieneba, who is on the right of the photo raising her hand, is the representative for the group. She is married and the mother of four daughters.
She prepares breakfasts for sale and also sells detergents. She masters this business activity rather well, having over ten years' experience.
With the requested loan she intends to invest 100,000 CFA francs to buy detergents and 200,000 CFA francs to buy the basic ingredients to prepare breakfasts for sale.
The profits will serve to pay tuition fees for her children and support her husband in dealing with family expenses.
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