And Siggil Hann 14 Group
Thus Siggil Hann 14 includes 12 women who live in the same region and work in the same industry. They engage in commercial activities and are represented by Ndeye. She is a married woman who sells fish and at the same time has done microgardening for over 20 years. She is a member of one of the branches of UIMCEC and is requesting a loan to purchase fish to resell. She aims to expand her business activity to increase her income, pay for the daily expenses of her family, and better support her children. Her next project is to acquire a refrigerated truck.
More information about this loan
To reach women 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. Previously, UIMCEC was unable to serve these borrowers because they could not provide a guarantee or afford to pay standard interest rates. 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.
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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