With the goal of increasing their business capital, the group members joined the microfinance institution Soro Yiriwaso and are now on their first solidarity loan cycle.
Ms. Dado (the woman seated in front with a blue container in the photo) is a major vendor of milk of all sorts in the village of Ouolobougouni; she intends to use her loan to purchase 250 liters of milk from the livestock farmers in the village. The sales are made, cash or credit, to a customer base composed of men and women.
With this loan, Ms. Dado hopes to make an average monthly profit of 16,000 francs CFA that will be used for reinvesting in her business and ensuring her children's care.
Madame Dado (femme assise devant avec le bidon bleu sur la photo) est une grande vendeuse de lait de toutes sortes dans le village de Ouolobougouni; Elle compte utiliser son prêt pour acheter 250 litres de lait avec les éleveurs du village. La revente se fait au comptant et à crédit à une clientèle composée d’hommes et de femmes. Avec ce prêt, Madame Dado espère réaliser un bénéfice mensuel moyen de 16 000 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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Success!! The loan was 100% repaid