He has requested this loan of 300,000 francs CFA, in order to buy seeds and fertilizer for his vegetable-growing business. He starts his working day at 6am and finishes at 5pm. Solace is responsible for the day-to-day expenses of his family and the school fees of his children.
In the future, he would like to improve his land and continue his vegetable-growing business.
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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Success!! The loan was 100% repaid