They know each other through being neighbours, relations and business partners at the local market. The members of the group are involved in small-scale businesses selling juice, onions, cosmetics (tubes of skin cream, hair extensions, etc.) and various other products (sugar, tea, coffee, soap, 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.
Astan (the woman standing second from the left) is a well-known onion seller at the local market. She is hoping to use her loan to buy 330 kg of onions. She buys her supplies at the grand market from stallholders from Niono. She then sells on her goods to individuals at the local market. The majority of her customers are women.
Astan hopes that with this loan she can make an average of 40,000 CFA francs per month, which she will use to reinvest in the business and provide for her family. Like the other members of the group, Astan’s ambition is to buy a plot of land to use for housing.
Madame Astan (la 2ème femme debout de la gauche vers la droite) est une grande vendeuse d’oignon dans le marché du quartier. Elle compte utiliser son prêt pour acheter 330 kg d’oignon. Elles s’approvisionnent au grand marché avec les forains de Niono. La revente se fait au comptant au marché du quartier à une clientèle composée majoritairement de femmes. Madame Astan espère réaliser avec ce prêt un bénéfice mensuel moyen de 40 000 FCFA avec ce prêt, qui sera utilisé, pour être réinvesti dans l’activité et subvenir aux besoins de sa famille. Tout comme les autres membres du groupe, Madame Astan a pour objectif d’acheter une parcelle à usage d’habitation.
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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