With the goal of strengthening their business, the members of the group decided to collaborate with Soro Yiriwaso and are now in their 13th group loan cycle.
Mrs. Batou (the second woman standing in the photo, from left to right) is a major vendor of all types of damask. She plans to use her loan to purchase 50 meters of the cloth. Her sales are made for cash and credit on site in the city of Ségou to a group of customers made up of men and women. Mrs. Batou expects to see an average monthly profit of 50,000 CFA francs, which will be reinvested in the business and will ensure the care of her children.
Dans le but de consolider leur petit commerce, les membres du groupe ont décidé de collaborer avec Soro Yiriwaso et sont à leur 13ème cycle de prêt solidaire.
Madame Batou (2ème femme debout de la gauche vers la droite sur la photo) est une grande vendeuse de Bazin de toute sorte. Elle compte utiliser son prêt pour acheter 50 mètres de Bazin. La revente se fait au comptant et à crédit dans la ville de Ségou sur place une clientèle composée d’hommes et de femmes. Madame Batou compte réaliser un bénéfice mensuel moyen de 50 000 FCFA, qui sera 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