They are on their 13th loan with the microfinance instituion Soro Yiriwaso in order to satisfy their customers' needs.
Ms. Safiatou runs a business selling clothes as part of the Soutoura group of women, and is standing second from the right in the photo.
With her loan, she intends to buy twenty sets of pagne wax (a type of brightly-printed clothing), which she will resell at retail in cash in the area to a clientele composed mainly of women.
She foresees realizing an average monthly profit of 85,000 FCFA, of which one portion will be used to repay the loan and its interest, and the remainder will be saved.
Elles sont à leur treizième prêt avec l’institution de microfinance Soro Yiriwaso afin de satisfaire le besoin de leur clientèle.
Mme Safiatou fait le commerce des habits dans ce groupe de femmes Soutoura et elle se tient en deuxième position de la droite vers la gauche.
Elle compte acheter avec son prêt une vingtaine de pièce de pagne wax qu’elle revendra en détail sur place en famille à une clientèle composée pour la majeur partie de femmes au comptant.
Elle envisage réaliser un bénéfice mensuel moyen de 85000 FCFA dont une partie est utilisée pour payer le prêt et son intérêt 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