Babacar buys millet at the closest weekly markets and sells it in his own neighborhood. Because millet is in high demand in that area, his stock goes fast and he has to replenish it quickly to meet customer demand.
A married man, Babacar manages to support his family with the profits earned through his activity. He would like to build a storage facility, which would allow him to buy larger quantities and to take advantage of the drops in price that occur from time to time.
Babacar est mariée et arrive à subvenir aux besoins de sa famille grâce aux bénéfices tirés de son activité. Il aimerait construire un magasin de stockage afin de pouvoir acheter en grande quantité et de profiter des prix bas selon la période.
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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