They joined the microfinance institution Soro Yiriwaso to bolster their capital and better run their businesses. This is their second loan cycle with the MFI.
Their first loan was correctly repaid.
Fatoumata, seen in the center, is the president of the group. She buys and sells used clothing. She will use her loan to buy three bales of used clothing from wholesalers in Bamako.
She conducts her sales at the market and from her home, at retail, for cash or credit, to a customer base consisting of both men and women.
She expects to earn an average monthly profit of 60,000FCFA, which she will use to repay her loan and to invest in her activity.
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 de vêtements, des habits et de la friperie.
FATOUMATA, qui est la présidente du groupe est la femme du milieu. Elle fait l’achat vente des friperies et compte acheter avec son prêt, 3 colis de friperie 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 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