The members of the group have joined Soro Yiriwaso in order to increase their businesses, and they are on their twelfth solidarity loan cycle.
Nafi, standing first from the left in the photo, is an important seller of various utensils in Darsalam. She plans to use her loan to buy several dozen of plastic utensils. She resells her merchandise for cash or on credit to a customer base which mostly consists of women.
With this loan, Nafi hopes to make an average monthly profit of 10,000 CFA francs which will be reinvested in her business and also used to take care of her children.
Madame Nafi (1ier femme debout de la gauche vers la droite sur la photo) est une grande vendeuse d’ustensiles de toutes sortes dans le quartier de Darsalam. Elle compte utiliser son prêt pour acheter plusieurs 12ène d’ustensiles en plastique. La revente se fait au comptant et à crédit à une clientèle composée majoritairement de femmes. Avec ce prêt, Madame Nafi espère réaliser un bénéfice mensuel moyen de 10 000 FCFA qui sera investi 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