They are on their third loan with the microfinance institution Soro Yiriwaso in order to satisfy the needs of their clientele. Madame FATOUMATA standing third from the right sells used clothing.
She intends to buy a bale of used clothing with her loan amount and she will resell it retail at the market of Médine in Sikasso and within her extended family, to a clientele of men and women, on a cash basis.
She expects to make an average monthly profit of 20,000 F CFA of which a part will be used to pay off the loan and its interest and the rest will be put aside as savings.
Elles sont à leur troisième prêt avec l’institution de microfinance Soro Yiriwaso afin de satisfaire le besoin de leur clientèle.
Madame FATOUMATA en troisième position à partir de la droite fait le commerce de friperie.
Elle compte acheter avec son prêt une balle de friperie qu’elle revendra en détail au marché de Médine à Sikasso et en famille à une clientèle composée d’hommes et de femmes au comptant.
Elle envisage réaliser un bénéfice mensuel moyen de 20 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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Success!! The loan was 100% repaid