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Babacar
This is Babacar, age 57. He has been conducting commercial activities for many years. He is a member of an IMCEC branch located in center Senegal, and he has previously benefited from two loans.

Babacar buys millet at the closest weekly markets and sells it in his own neighborhood. Because millet is in high demand in that area, his stock goes fast and he has to replenish it quickly to meet customer demand.

A married man, Babacar manages to support his family with the profits earned through his activity. He would like to build a storage facility, which would allow him to buy larger quantities and to take advantage of the drops in price that occur from time to time.
Notre emprunteur, s’appelle Babacar, il est âgé de 57 ans et évolue dans le commerce depuis des années. Il est sociétaire dans un des guichets d’IMCEC qui se trouve au centre du Sénégal. Il a déjà eu à bénéficier de 2 crédits. Babacar achète du mil dans les marchés hebdomadaires les plus proches et vient revendre dans son voisinage. Le mil étant une denrée très prisée dans cette zone, sa marchandise ne reste pas invendue pendant longtemps, ce qui lui permet de renouveler rapidement son stock afin de satisfaire rapidement sa clientèle.
Babacar est mariée et arrive à subvenir aux besoins de sa famille grâce aux bénéfices tirés de son activité. Il aimerait construire un magasin de stockage afin de pouvoir acheter en grande quantité et de profiter des prix bas selon la période.

Additional Information

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 UIMCEC

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.

About Senegal

  • $1,759
    Average annual income
  • 30
    View loans »
    Senegal Loans Fundraising
  • $12,997,975
    Funds lent in using Kiva
  • 478.4
    Communauté Financière Africaine Francs BCEAO (XOF) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $525 helped Babacar to buy millet for resale.
91% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Jan 20, 2014
Listed
Feb 18, 2014
Currency Exchange Loss:
Possible
Ended:
Feb 20, 2015