Astou is the group's representative. She is 61 years old, married, and the mother of five children (two boys and three girls) whose ages range between 30 and 15 years old.
Astou sells seafood. She goes to the nearest coastal town to buy her goods and resells at the market. She has been involved in this activity since she joined the banc villageois five years ago.
She plans to use her loan to buy 200 kilos of smoked fish at a total price of 50,000 francs, 100 kilos of dry fish at 100,000 francs and 80 kilos of cymbium (a type of sea snail) at 104,000 francs.
She uses her profits to help her children cover their household 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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