With the goal of increasing their business capital, the group members joined the microfinance institution Soro Yiriwaso and are now on their second solidarity loan.
Ms. ASSAN (first person standing from the left in the photo) intends to use her loan to purchase 6 lengths of Wax 'pagnes' (the colorful cloth of western Africa) and 6 damask outfits. She gets her supplies from wholesalers. Accepting cash, she makes her sales to a customer base composed of men and women.
With this loan, Ms. ASSAN 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 ont intégré Soro Yiriwaso et sont à leur 2 eme prêt solidaire.
Madame, ASSAN (1ere personne debout de la gauche vers droite) compte utiliser son prêt pour acheter 6 pièces de wax et 6 complets de Bazin elle s’approvisionne auprès des grossistes. Elle effectue ses ventes au comptant et à crédit à une clientèle composée de femmes et d’hommes.
Avec ce prêt, Madame ASSAN 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