The women are on their fifth loan with the microfinance organization Soro Yiriwaso, in the hope of being able to meet the needs of their customers.
Maimouna is in the business of "sounbala" (a west African spice) in this group of women. She is shown standing in the center of the photo. Maimouna plans to use her portion of the loan proceeds to purchase 50kg of seeds from the "néré" (an African tree) which she will turn into sounbala. She will then resell the sounbala at retail in the market and out of her home, to a customer base made up mostly of women who pay in cash.
She hopes to earn an average monthly profit of 40,000 francs CFA, of which a portion will be used to pay back the loan and interest and the remainder to be put in savings.
Mme Maimouna fait le commerce de Sounbala dans ce groupe de femmes. Elle est debout au milieu.
Elle compte acheter avec son prêt 50 kg de grain de néré qu’elle transforme en sounbala qu’elle revendra en détail au marché et à la maison à une clientèle composée généralement de femmes au comptant.
Elle envisage réaliser un bénéfice mensuel moyen de 40 000 FCFA dont une partie est utilisée pour payer le prêt et son interêt et l’autre pour son épargne .
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