With the goal of consolidating their small businesses, the group members decided to collaborate with the microfinance institution Soro Yiriwaso and are now on their 11th solidarity loan cycle.
Ms. Baaba (standing in the middle in the photo) is a major seller of condiments in and around the village of Yassalam. She intends to use her loan to purchase 500 kg of baobab leaves a little at a time from in and around the village. Cash and credit sales are made at the Château de Ségou market by going door to door. Her customers are mostly women.
Ms. Baaba plans on making an average monthly profit of 30,000 francs CFA that will be used to reinvest in the business and ensure her children's care.
Dans le but de consolider leur petit commerce, les membres du groupe ont décidé de collaborer avec Soro Yiriwaso et sont à leur 11ème cycle de prêt solidaire.
Madame Baaba (femme debout au milieu sur la photo) est une grande vendeuse de condiments dans le village de Yassalam et environs. Elle compte utiliser son prêt pour acheter 500kg de feuilles de baobab petit à petit dans le village et environnants. La revente se fait au comptant et à crédit dans le marché Château de Ségou en ambulant à une clientèle composée majoritairement de femmes. Madame Baaba compte réaliser un bénéfice mensuel moyen de 30.000 FCFA, qui sera utilisé pour être réinvesti dans l’activité et assurer l’entretien des enfants.
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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