With the goal of increasing their capital, the group members joined the microfinance institution Soro Yiriwaso and are now on their first solidarity loan.
Ms. Sitan (the second woman standing from left to right in the photo) is a major seller of grains of all qualities in and around the village of Beni. She plans on using her loan to buy 2 sacks of millet at the fair in Cinzana Gare. Cash or credit is accepted for sales to a customer base composed of men and women.
With this loan, Ms. Sitan hopes to make an average monthly profit of 10,000 francs CFA that will be used to reinvest in her business and to take care of her household needs for food.
Just like the other clients of the group, her ambition is to raise small ruminants in this partnership with Soro Yiriwaso.
Madame, Sitan (2ème femme debout de la gauche vers la droite sur la photo) est une grande vendeuse de céréales de toutes qualités dans le village de Beni et ses environnants. Elle compte utiliser son prêt pour acheter, 2 sacs de mil à la foire de Cinzana Gare. La revente se fait au comptant et à crédit à une clientèle composée d’hommes et de femmes. Avec ce prêt, Madame Sitan espère réaliser un bénéfice mensuel moyen de 10.000 FCFA qui sera utilisé pour être réinvesti dans l’activité et prendre en charge les besoins du foyer en condiments. Madame. A l’image des autres clientes du groupe, elle a pour ambition de faire l’élevage des petits ruminants dans ce partenariat avec Soro Yiriwaso.
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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