In the photo, Ms. Salma is standing at the far left with her hand raised and is dressed in a great white 'boubou'. She does commerce in 'pagnes' (the colorful cloth of western Africa), dried fish, and a variety of goods. With this new loan of 200,000 francs, she is going to purchase some dried fish and other goods that she is going to sell retail in her district. The profits will enable her to bolster her savings, help with family expenses, and cover personal needs.
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