They are on their third loan with the microfinance institution Soro Yiriwaso with the goal of meeting the demand of their customers.
Mrs. Mariam, seated second from the left, is in the business of buying and selling fabric.
She plans to buy 50 Wax pagnes (brightly colored lengths of cloth) and other types of pagnes of varying quality which she will sell at retail at the main market in Sikasso, as well as within her family to a clientele of men and women, on credit.
She foresees earning an average monthly profit of 25,000 FCFA, a part of which will be used to pay the loan with interest. The rest will go into savings.
Elles sont à leur quatrième prêt avec l’institution de microfinance Soro Yiriwaso afin de satisfaire le besoin de leur clientèle.
Madame MARIAM assise en deuxième position à partir de la gauche fait commerce de tissus.
Elle compte acheter, 50 pagnes wax et 10 pagnes d’autres qualités qu’elle revendra en détail au grand marché de Sikasso et en famille à une clientèle composée d’hommes et de femmes au comptant.
Elle envisage réaliser un bénéfice mensuel moyen de 25 000FCFA 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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