They met through neighbourhood, friendship and business contacts. To increase their financial capacity and do better business, they have become members of the Soro Yiriwaso micro-finance institution and this is their third loan. They repaid the two previous loans correctly. This group of women deal in textiles like Fatoumata, the one sitting in the photo. She buys and sells traditional pagne fabrics and plans to purchase with her loan 20 wax pagnes from the wholesalers in Bamako. She sells her merchandise at the market and from her home for cash or for credit to an essentially female clientele.
She hopes to make an average monthly profit of 60.000FCFA which she will use to reinvest in her business and repay the loan.
Elles se sont connues à travers des liens de voisinage, d’amitié et de commerce. Pour renforcer leur capacité financière afin de mieux faire leur commerce, elles ont adhéré à l’institution de microfinance Soro Yiriwaso avec laquelle elles sont à leur troisième cycle. Les 2 précédents prêts ont été correctement remboursés. Ce groupe de femmes fait le commerce de tissus
à l’image de FATOUMATA, qui est la seule assise sur la photo. Elle fait l’achat vente de pagnes et tissus et compte acheter avec son prêt, 20 pièces de pagnes wax avec les grossistes de Bamako. Elle effectue ses ventes au marché et à domicile, en détail au comptant et à crédit à une clientèle composée essentiellement de femmes.
Elle envisage réaliser un bénéfice mensuel moyen de 60.000FCFA qui sera investi dans les activités et rembourser le prêt.
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