The members of this group joined the loan program at Soro Yiriwaso (Kiva Field Partner) five years ago and they are on their 9th loan cycle.
They have had their revenue generating activity for about 17 years, involved in the buying and selling of condiments, various merchandise, and gourds.
Korotimi M. plans on purchasing 35 packages of gourds at San, Bla and at the fairs in the area. They carry out their sales in Kimparana and at the fairs in the area to a clientele made up primarily of women. They sell in cash and credit. She expects to earn a monthly income of 29000 FCFA but the other members of the group expect a monthly income of 24500 FCFA. This income will be used to repay debts, to provide for her family’s needs and to reinvest in the business in order to increase it.
Les membres de ce groupe ont intégré le programme crédit de Soro Yiriwaso il y’ a 5 ans, elles sont à leur 9ème cycle.
Elles évoluent dans les activités génératrices de revenus il y’ a environ 17 ans et font l’achat et la vente de condiments alimentaires, diverses marchandises et les calebasses.
KOROTIMI M. compte acheter, 35 colis de calebasses à San, Bla et les différentes foires environnantes. Elles effectuent sa vente à Kimparana et dans les autres foires environnantes à une clientèle composée essentiellement de femmes. Elle vend en espèce et à crédit. Elle espère réaliser mensuellement à un bénéfice de 29000 FCFA tandis que les autres membres du groupe compte sur un bénéfice de 24500 FCFA, qui serviront à rembourser les dettes, subvenir aux besoins familiales et réinvestir dans l’entreprise pour pouvoir l’agrandir.
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