In order to satisfy customer demand, they are on their first loan with micro-finance organization Soro Yiriwaso.
Wassa is in the trade of "Wax" and traditionally-woven cloth. She is sitting in the middle. With her loan, she is planning on purchasing 25 pieces of wax cloth from Bamako’s great market. She buys from wholesalers and retails at the great market in Sikasso and in family settings, to a clientele composed of men and women. She takes cash and sometimes offers credit with weekly or monthly payments.
She is counting on an average monthly benefit of 22,500 FCFA, part of which will be used to repay the loan and its interest, with the remainder going towards her savings.
Elles sont à leur premier prêt avec l’institution de microfinance Soro Yiriwaso afin de satisfaire le besoin de leur clientèle.
WASSA fait le commerce de pagnes wax et de pagnes tissés traditionnellement. Elle est assise au milieu et compte acheter avec son prêt, 25 pièces de pagnes wax au grand marché de Bamako auprès des grossistes et revend au grand marché de Sikasso et en famille à une clientèle composée d’hommes et de femmes, en détail, au comptant et quelques fois à crédit payable hebdomadairement ou mensuellement.
Elle envisage réaliser un bénéfice mensuel moyen de 22 500FCFA dont une partie est utilisée pour payer le prêt et son intérêt et l’autre pour son épargne.
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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