These women came to know each other as neighbors, and through friendship and business. In order to increase their financial capacity in order to better stock up, they have partnered with the microfinance organization Soro Yiriwaso. This will be their third loan, and the previous two have been fully repaid.
This group of women is in the clothing business, led by Fatoumata who is the president of the group and is shown seated in front of the other members in the photo. With her portion of the loan, she plans on purchasing 150 "pagnes" (traditional cloth) from wholesalers in Bamako. Fatoumata will then resell them at retail, both for cash and on credit, in the Bougouni market to a customer base made up of both men and women.
Fatoumata hopes to earn an average monthly profit of 40,000 francs CFA, which will be reinvested in her business.
Elles se sont connues par des liens de voisinage, d’amitié et de commerce. Pour renforcer leur capacité financière afin de mieux faire leur stock, elles ont adhérés à l’institution de microfinance Soro Yiriwaso avec laquelle elles sont à leur troisième prêt et tous les deux prêts précédents ont été correctement remboursés. Ce groupe de femmes fait le commerce des habits à travers FATOUMATA, qui est la présidente du groupe et assise devant les autres dans la photo. Elle compte acheter avec son prêt, 150 pagnes univax avec les grossistes de Bamako pour ensuite les revendre en détail, au comptant et à crédit dans le marché de Bougouni, à une clientèle composée d’hommes et de femmes.
Elle envisage réaliser un bénéfice mensuel moyen de 40.000FCFA qui sera investi dans les activités.
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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