project in Senegal

Loan Illustration

J'ai commencé la couture en 2004 et je suis venue m'installer au marché HLM où la demande est plus forte. Ce prêt me permettra de renouveler mon stock et j'…

Tailoring and couture

Senegal

Loan amount €460

Funded 100%

by 16 members

Loan fully repaid by the entrepreneur

Disbursment date to the MFI: 08/01/2011
Final repayment of the loan: 05/01/2012

MicroWorld's investors have funded:

€460

Aida DIOUF - Diversify stock

Borrower

Last name: DIOUF

First name: Aida

Gender: Female

Age: 40

Marital status: Single

Number of children:

Region: HLM

Main activity: Production / Textiles / Tailoring and couture

Loan Request

Purpose: Diversify stock

Amount: €460

Duration: 9 months

Repayment to MFI: Monthly

Repayment date to the MFI^*: 05/01/2012

^*The lender receives the repayment within a month afer this date.

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Project progress

Progress (month)

Reimbursement state

Successful partial reimbursement

Failed partial reimbursement

No data

Not yet reimbursed

The lenders on this project will be repaid in one payment at the end of the loan term. The loan is guaranteed by the MFI in case of default by the borrower.

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Borrower Quote

J'ai commencé la couture en 2004 et je suis venue m'installer au marché HLM où la demande est plus forte. Ce prêt me permettra de renouveler mon stock et j'espère à l'avenir continuer à recevoir le soutien de MicroCred afin de développer mon activité.

Project follow-ups

23.03.2012

Je suis couturière au marché HLM et MicroCred m’avait octroyé une somme de 350.000 FCFA destinée à acheter un stock important de tissus et accroitre ma production.
Aujourd’hui, je paie mes remboursements toujours à la date échue, mon activité se développe petit à petit et c’est ce qui explique l’augmentation de mon chiffre d’affaires.
Le seul problème auquel tous les couturiers sont confrontés aujourd’hui, est le manque d’électricité et la rude concurrence du fait de la saturation de cette activité.
Au terme de ce crédit, je souhaite renouveler ma demande pour mieux réorganiser mon activité et persévérer dans mon domaine d’activité.
06.10.2011

Je suis couturière au marché HLM et MicroCred m’avait octroyé une somme de 350.000FCFA pour acheter un stock important de tissus et accroitre ma production.
Aujourd’hui, je paie mes remboursements toujours à la date échue, mon activité se développe petit à petit et mon chiffre d’affaires augmente également.
Les seuls problèmes auxquels je suis confronté, comme tous les couturiers aujourd’hui, sont les pannes d’électricité et la rude concurrence du fait de la saturation de cette activité.
Au terme de ce crédit, je souhaite renouveler ma demande de crédit pour mieux réorganiser mon activité et persévérer dans mon domaine d’activité.

Economic and social context

Senegal

The relative economic and political stability in modern Senegal is a significant feat attributed to the country's growth through microfinance.

Country's key figures - source Worldbank
Population	12 534 228
GNI per capita	1 030 $
Economic Growth	3,30%
Poverty rate (less than 2 USD/ day)	60,4% (en 2005)
Unemployment rate	11,10%
Literacy rate (above 15 years of age)	42%
Life expectancy	56 ans

MFI Status

This loan is managed locally by our field partner MicroCred Senegal which is in charge of administrating the loan and repaying GDF SUEZ by MicroWorld lenders.

- Partnership status: Confirmed
- Credit score:
- Time on GDF SUEZ by MicroWorld: 32 months
- Repayment rate: 100%

You should be aware that lending involves a risk of non-repayment. However, the risk associated with this MFI is considered lower than average.

Rates and transparency

- This loan is at 0% and does not pay any interest to the lender.

- 100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.

- The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.

- MicroWorld earns a commission from the MFI for the service it provides, which helps to fund its running costs.

- More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.

The MFI

MicroCred Senegal

MicroCred Senegal’s mission is to support Micro, Very Small, and Small-to-Medium Enterprises in their development through providing financial services that are appropriate to their needs. By taking a personalized approach, MicroCred Senegal assists merchants, artisans, and service providers in expanding their businesses by financing their income generating activities.

Key figures - December 2011
Legal status	NBFI (Non-Bank Financial Institution)
Number of borrowers	15,896
Gross loan portfolio	USD 21,290,144
Average loan balance	USD 1,339
Average interest rate for borrower	1% per month
Number of personnel	206
PAR (Portfolio at Risk)	1.0%