This group is composed of 5 members who live in the village of Pire, 100 kilometers from DAKAR, the capital of Senegal. Their main business is selling agricultural products, such as manioc tubers. They are experienced in this field and have a strong client base. Their days begin at 8 a.m. and end around 8 p.m. With this funding, they plan to buy 100 bags of manioc that they will resell at the market. The income earned from the sale of manioc will enable them to expand their business and to take care of their children’s needs (payment of school fees and medical expenses and helping with home maintenance).
Ce groupe est composé de 5 membres qui habitent dans le village de Pire à cent km de DAKAR la capitale du Sénégal, leur activité principale est le commerce de produits agricoles les tubercules de manioc. Elles sont expérimentées dans le domaine et disposent d’une bonne clientèle. Leur journée commence à 8 heures du matin et se termine vers 20heures du soir. Avec ce financement elles comptent acheter 100 sacs de manioc qu’elles vont revendre au marché. Les revenus tirés de la vente du manioc leur permettra de renforcer leur commerce mais aussi de satisfaire les besoins de leurs enfants (paiement des frais de scolarité les frais médicaux et participer a l’entretien de la maison).
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.
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.