They know one another through ties of community, friendship and commerce. In order to bolster their financial capacity and to do better in business, they have joined the microfinance institution Soro Yiriwaso, and this is their second loan with the institution. Their previous loan was duly repaid.
This women's group sells clothing, grains, perfumes, vegetables and many other various goods.
Fatoumata, the president of the group, is sitting first from the left in the photo. She buys and sells clothes, and she is planning to use her loan to buy three boxes of used clothing from wholesalers in Bamako. She sells at the market and from home, for cash or on credit, to a retail customer base which mostly consists of women.
She is expecting average monthly profits to reach 20,000 CFA francs, which will be invested in her business and also used to repay her loan.
Elles se sont connues à travers des liens de voisinage, d’amitié et de commerce. Pour renforcer leur capacité financière afin de mieux faire leur commerce, elles ont adhéré à l’institution de microfinance Soro Yiriwaso avec laquelle elles sont à leur deuxième prêt. Le précédent prêt a été correctement remboursé. Ce groupe de femmes fait le commerce d’habits et de céréales, de parfum, de légumes et biens d’autres articles divers.
FATOUMATA, qui est la présidente du groupe est la première assise de la gauche vers la droite. Elle fait l’achat vente des habits et compte acheter avec son prêt, 3 colis de friperies avec les grossistes de Bamako. Elle effectue ses ventes au marché et à domicile, en détail au comptant et à crédit à une clientèle composée essentiellement de femmes.
Elle envisage réaliser un bénéfice mensuel moyen de 20.000FCFA qui sera investi dans les activités et rembourser le prêt.
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