With the goal of increasing their business capital, the group joined the microfinance institution Soro Yiriwaso and are now on their first solidarity loan.
Ms. FATOUMATA (first person standing from the left in the photo) is well-known for selling clothing. She intends to use her loan to purchase 10 lengths of 'pagnes' (the colorful cloth of western Africa). She gets her supplies from SAN wholesalers. She makes her sales in cash to a customer base composed of men and women.
With this loan, Ms. FATOUMATA hopes to make an average monthly profit of 15,000 francs CFA that will be used for reinvesting in her business and meeting household needs.
Dans le but d’augmenter leurs fonds de commerce, les membres du groupe intègrent Soro Yiriwaso et sont à leur 1er prêt solidaire.
Madame, FATOUMATA (1 ère personne debout de la gauche vers la droite) très connue dans la vente d’habits
Elle compte utiliser son prêt pour acheter 10 pièces de pagnes. Elle s’approvisionne auprès des grossistes à SAN. Elle effectue ses ventes au comptant, a une clientèle d’hommes et de femmes.
Avec ce prêt, Madame FATOUMATA espère réaliser un bénéfice mensuel moyen de 15 000 FCFA qui sera utilisé pour être réinvesti dans l’activité et prendre en charge des besoins du foyer.
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