They know each other as neighbors and friends, and through business. In order to raise their working capital and better conduct their businesses, they have joined the micro-finance institution Soro Yiriwaso with whom they are on their third loan. The two previous loans have been properly repaid. This group of women is in the business of selling cosmetic products and incense with ROKIA as the leader of the group. She is the only woman seated in the group. With her loan, she plans to buy the main ingredients for making incense from wholesalers in Bamako. After making the incense, she makes her sales at the market and from home, for cash and on credit, to a clientele of women and men
She foresees making an annual monthly benefit of 60,000 FCFA which will be invested in the business and used to repay the 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 troisième prêt. Les deux précédents prêts ont été correctement remboursés. Ce groupe de femmes fait le commerce de produits cosmétiques et de l’encens avec ROKIA qui est la présidente du groupe et la seule femme assise dans le groupe. Elle compte acheter avec son prêt, diverses matières premières entrant dans la composition de l’encens auprès des grossistes de Bamako. Elle effectue ses ventes après confection de l’encens, au marché et à domicile, au comptant et à crédit à une clientèle composée de femmes et d’hommes.
Elle envisage réaliser un bénéfice mensuel moyen de 60.000FCFA 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