The members of this group came to know each other as neighbors, and through friendship and business. In order to increase their financial capacity, they have partnered with the lending program of the microfinance organization Soro Yiriwaso. This is their first loan.
These women are in the pastry business, led by Awa. Awa is the president of the group, pictured dressed in green with a paper in her hand. She plans on using her portion of the loan proceeds to purchase 200kg of sorghum from farmer producers.
Awa runs her business from her home, both for cash and on credit, to a customer base of both men and women. She hopes to earn an average monthly profit of 20,000 francs CFA which will be reinvested in her business.
Pour renforcer leur capacité financière elles adhérent au programme crédit de l’institution de microfinance Soro Yiriwaso avec laquelle elles sont à leur premier prêt. Ce groupe de femmes fait le commerce beignet à travers AWA.
AWA, est la présidente du groupe habillée en complet vert avec un papier en main, compte acheter avec son prêt, 200Kg de sorgho avec les paysans producteurs. Elle fait son commerce à la maison au comptant et à crédit à une clientèle composée d’hommes et de femmes.
Elle envisage réaliser un bénéfice mensuel moyen de 20.000FCFA 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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