They became acquainted through their activities, kinship and marriage ties. Members of the group retail potatoes, shallots and spaghetti. To increase their supply stock, group members joined Soro Yiriwaso and are on their 15th group loan cycle.
Mrs. Koumba (in the middle of the three women sitting) is known in the Darsalam area for the quality of her restaurant. She plans to use the loan to buy four bags of rice for her restaurant from producers in Niono. She sells food dishes for cash in her restaurant.
Mrs. Koumba hopes to achieve with this loan an average monthly profit of 27,000 FCFA, which will be reinvested in the business and used to purchase household condiments and cover healthcare costs for the children.
Madame Koumba (au milieu des trois femmes assises) est connue dans le quartier de Darsalam par sa qualité de restauratrice. Elle compte utiliser son prêt dans l’achat de 4 sacs de riz pour des fins de restauration chez les producteurs de Niono. Elle vend ses plats alimentaires au comptant dans son restaurant. Madame Koumba espère réaliser avec ce prêt un bénéfice mensuel moyen de 27 000FCFA qui sera utilisé pour être réinvesti dans l’activité et prendre en charge les besoins du foyer en condiments et frais de santé 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