They are on their 14th loan with the microfinance institution Soro Yiriwaso due to the concern of satisfying the needs of their clientele.
Madam Fatoumata sells pagnes [colorful African fabric] and fabric in this group of women. She is in the second position from left to right.
With her loan she plans to buy about 20 pieces of pagnes which she resells retail on the spot and at the market in Hamdallaye.
She envisions making an average monthly profit of 35,000 FCFA of which part is used to pay the loan and its interest and the other for her savings.
Elles sont à leur 14ème prêt avec l’institution de micro finance Soro Yiriwaso dans le souci de satisfaire le besoin de leur clientèle.
Mme FATOUMATA fait le commerce de pagnes et de tissus dans ce groupe de femmes. Elle se tient en deuxième position de la gauche vers la droite.
Elle compte acheter avec son prêt environ 20 pièces de pagnes qu’elle revend en détail sur place et au marché de Hamdallaye.
Elle envisage réaliser un bénéfice mensuel moyen de 35 000 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