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May 23, 2016 7:02 EST

Senegal – Maye’s Group: A portion of Maye’s Group’s $4,800 loan helps a member to buy one ox.

iCrowdNewswire - May 23, 2016

Maye’s Group

 

Senegal Agriculture | Livestock

 

Maye's Group

 

Update on Maye’s Group

This group, which consists of eight members, is part of a Banc Villageois created in November 2009. The members of the group are dynamic women who are all actively involved in livestock fattening.

Maye, standing on the right and raising her hand, is the group’s featured borrower. She is a 46-year-old widow and the mother of two boys and four girls. She is also taking care of two of her grandchildren. She fattens livestock for a living and has a great deal of experience in this field.

She will use her new loan to buy one ox at a market located near her village; she will fatten it up and resell it after five months. She also plans to use the remainder of her loan to buy some cattle feed and to pay veterinary fees.

Maye’s profits will be used to cover her family’s expenses, especially since she is a widow. However, she’s also thinking of buying one sheep or one goat.

View original language description ↓

Previous Loan Details

This group of seven women makes up a part of the banc villageois which was established in November 2009. The women in the group share solidarity and are very dynamic. They also all live in the same village and work primarily in livestock farming. Sizanne, who is standing on the right of the phot… More from Maye’s Group’s previous loan »

Additional Information

More information about this loan

This loan is going to a borrower or borrower group living in a rural area.

About CAURIE Micro Finance

The 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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower’s second, third, etc., loan on Kiva without having to re-enter all of the borrower’s information.

This borrower has been listed on Kiva before, so you’ll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary “add-on” loan along with it. These “add-on” loans are typically smaller than the borrower’s primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

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.

 

 

Contact Information:

Maye's Group

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