The group’s members work in small-scale retail selling high-grade “pagnes” (traditional wrap-around cloth), cosmetics, shoes and gum arabic. To increase their working capital and buy their supplies in cash, the group members joined Soro Yiriwaso and are on their seventh group loan cycle.
Fatoumata (the first woman from right to left in the photo) is a successful seller of all kinds of shoes in Pelengana. She plans to use her loan to buy 200 pairs of plastic shoes in the Grand Market of Bamako. She will resell her goods on a cash and credit basis from home, on the street and in Pelengana market, and her customers are mainly women. Fatoumata hopes that the loan will allow her to make an average monthly profit of 40,000 francs CFA. She will use this money to reinvest in her business, as well as to provide for her children’s education and health expenses. Like the other members of the group, Fatoumata wants to increase her business volume with this support from Soro Yiriwaso.
Madame Fatoumata (1ère femme à droite sur la photo) est une grande vendeuse de chaussure de toutes sortes à Pelengana. Elle compte utiliser son prêt pour acheter 200 paires de chaussures plastiques au grand marché de Bamako. La revente se fait au comptant et à crédit à domicile, en ambulant et au marché de Pelengana à une clientèle composée majoritairement de femmes. Madame Fatoumata compte réaliser avec ce prêt un bénéfice mensuel moyen de 40.000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et assurer les besoins du foyer en soin de santé et de scolarisation des enfants. Madame Fatoumata à l’instar des autres membres du groupe a pour objectif d’augmenter le volume de son activité avec cet appui de 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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Success!! The loan was 100% repaid