Fokaben Iv Group
They work with with microfinance institution Soro Yiriwaso with the goal of better organizing their farming businesses at the beginning of the rainy season. The crops grown include, among others, rice and peanuts. They are on their fifth loan with the institution.
With this new loan, Niassa, sitting in the middle in the picture, intends to buy agricultural inputs and small equipment and to pay for labour (hoeing) costs to manage about 0.8 hectares of rice and peanut crops.
The produce is sold in the town of Massigui after the harvest to a clientele composed of men and women. Each group member intends to realize an average profit of about 60,000 FCFA for the season.
Elles collaborent avec l’institution de microfinance Soro Yiriwaso dans le but de pouvoir mieux organiser leurs activités en début d’hivernage. Les spéculations cultivées sont entre autres le riz et l’arachide. Elles sont à leur cinquième collaboration avec l’institution.
Avec ce nouveau prêt, NIASSA, assise au milieu, compte acheter les intrants, les petits équipements et payer les frais de labour (sarclage) pour entretenir environs 0,8 hectare de riz et d’arachide.
Les productions sont vendues au niveau de la ville de Massigui après les récoltes à une clientèle composée d’hommes et de femmes. Elles comptent réaliser un bénéfice moyen de 60.000FCFA environs par campagne.
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