The members of the group are involved in the small-scale trading of garnishes (garlic, Maggi condiments, dried okra, etc.) and vegetables (tomatoes, aubergine, cabbages, etc.). In order to increase their business funds, the members of the group have decided to collaborate with Soro Yiriwaso and this is their first solidarity loan cycle.
Mamou (pictured on the far left) sells vegetables. She will use her loan to buy ten baskets of fresh tomatoes and five sacks of cabbages. She buys her supplies at a market in Bamako from stallholders who come from places such as Kati, Sikasso and the area around Bamako, according to the best offers. She then sells on her goods to individuals at her local market. The majority of her customers are women.
Mamou hopes that with this loan she can make an average of 30,000 CFA francs per month, which she will use to reinvest in the business and meet her family’s needs.
Madame Mamou (la 1ème femme à extrême gauche) est une vendeuse de légumes. Elle compte utiliser son prêt pour acheter 10 corbeilles de tomate fraiche et 5 sacs de choux pommés. Elles s’approvisionnent au marché de Bamako avec les forains de divers horizons tels que Kati, Sikasso et environnants de Bamako selon le plus offrant. La revente se fait au comptant au marché du quartier à une clientèle composée majoritairement de femmes. Madame Mamou espère réaliser avec ce prêt un bénéfice mensuel moyen de 30 000 FCFA, qui sera utilisé, pour être réinvesti dans l’activité et subvenir aux besoins de sa famille.
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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