These women have just begun their partnership with Soro Yiriwaso. They are on their first solidarity loan. They are united by the fact of living in the same neighborhood.
This loan will be used to buy 250 kg of cereals (maize, millet, fonio--a local sort of millet) and 400 liters of milk. Those who sell cereals do their buying from farmers in the villages surrounding Garalo. Those who sell milk buy from the farmers who raise cattle, sheep, and goats in Garalo. The articles are re-sold in Bougouni and Garalo.
This business permits each of the members to earn 25,000 F CFA per month. This profit will permit them to make repayments on the loan, and also cover some of the expenses of their families (children's education, health, and clothing above all).
Ces femmes viennent de commencer le partenariat avec Soro Yiriwaso. Elles sont à leur premier prêt solidaire. Elles sont unies par des liens du voisinage.
Le présent prêt sera utilisé pour acheter 250 kg de céréales (mais, mil, fonio) et 400 litres de lait. Les vendeuses de céréales s’approvisionnent avec les agriculteurs des villages environnants de Garalo. Les vendeuses de lait achètent avec les éleveurs de vaches, de moutons et chèvres de Garalo. Ces articles seront revendus à Bougouni et Garalo.
Ce commerce permet à chacune des membres du groupe de gagner en moyenne 25.000FCFA par mois. Cette marge bénéficiaire leur permet de rembourser l’échéance du prêt et de satisfaire également quelques dépenses de la famille (éducation des enfants, santé et habillement surtout).
Important InformationSoro Yiriwaso is a microfinance institution that works primarily in rural and semi-urban areas of Mali to provide underprivileged communities with access to financial services.The organization facilitates access for disadvantaged clients, particularly women, to new resources and services, fostering solidarity and cooperation among its clients. Kiva lenders’ funds will enable Soro Yiriwaso to expand its outreach and target even more underserved Malians involved in business and agriculture.
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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Success!! The loan was 100% repaid