Balimaya 1 Group
They are collaborating with the microfinance institution Soro Yiriwaso with the goal of being able to organize their work at the start of the rainy season. The crops grown include millet and peanuts. They are on their third collaboration with the institution.
With this new loan, ASSAN, who is the second person sitting from the left, plans to buy farm inputs and sundry equipment and to cover the cost of plowing for maintaining 0.75 hectare of millet and of peanuts.
After the harvests, the produce is sold in the city of Dioïla to a customer base composed of men and women. ASSAN plans on making an average profit of about 100,000 francs CFA per planting.
Elles collaborent avec l’institution de microfinance Soro Yiriwaso dans le but de pouvoir mieux organiser leurs activités en début d’hivernage. Les spéculations cultivées sont entre autres le mil et l’arachide. Elles sont à leur troisième collaboration avec l’institution.
Avec ce nouveau prêt, ASSAN, deuxième personne à partir de la gauche dans le rang des assises, compte acheter les intrants, les petits équipements et payer les frais de labour pour entretenir environs 0,75 hectare de mil et d’arachide.
Les productions sont vendues au niveau de la ville de Dioïla, après les récoltes à une clientèle composée d’hommes et de femmes. Elle compte réaliser un bénéfice moyen de 100 000F CFA environs par campagne.
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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