These sellers of clothes and various merchandise decided to join the microfinance institution Soro Yiriwaso to stock up on bales of used clothing. They are on their fourth group loan. The three previous loans were correctly repaid.
Mariam S. plans to use her loan to buy two dozen shirts for small boys, twenty dress suits, and lots of clothing for newborns. She gets her merchandise at the Bamako market for resale at retail at the Bougouni market, for cash or credit, to a clientele composed of both men and women.
With this loan, the group members expect to earn a monthly profit of 40,000 FCFA each, which they will use to pay for the children’s tuition fees.
Avec ce prêt ces Mariam S. compte acheter 2 douzaines de maillots pour petits garçons, 20 complets de robe et beaucoup d’autres habillements pour les nouveau nés, sur le marché de Bamako pour ensuite les revendre en détail au comptant et à crédit à une clientèle composée d’hommes et de femmes dans le marché de BOUGOUNI.
Avec ce prêt les femmes comptent chacune obtenir un bénéfice mensuel de 40 000 FCFA par mois qui sera utilisé pour surmonter les frais d’éducation des enfants.
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