With this loan, she wants to bolster her stock of merchandise. In particular, she is going to purchase some thinner fabrics, such as khartoum, damask, and especially Wax ’pagnes’ (the colorful cloth of western Africa) that are the most used and the quickest to move on the market. Her customers include her family and friends, who really like how very practical and local a vendor she is. MARA has no overhead expenses, well, aside from what she feels she need for her household. So for the future of her business, she still needs to diversify her products and services.
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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