The members of the group sell dyed clothing (high-quality and medium-quality bazin cloth). In order to increase their business funds, the members of the group joined Soro Yiriwaso. This is their 13th solidarity loan cycle.
Rokia (pictured standing third from the right) has a great reputation in the dyed bazin trade. She is hoping to use her loan to buy 20 meters of high-quality bazin and 10 boxes of colours and indigos for dyeing the cloth. She sells dyed bazin for cash and on credit, both from home and as a travelling vendor, to her customers in the local neighbourhood, the majority of whom are women.
Rokia 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 buy additional food supplies for her household.
Madame Rokia (3ème femme debout de la droite vers la gauche sur la photo) a une grande réputation dans la vente du bazin teintés. Elle compte utiliser son prêt pour acheter 20 mètres de bazin riche et 10 boîtes de couleurs et d’indigos pour la teinture. Le bazin teinté est vendu au comptant et à crédit à domicile et en ambulant dans le quartier à une clientèle composée majoritairement de femmes.
Madame Rokia espère réaliser avec ce prêt un bénéfice mensuel moyen de 40 000FCFA qui sera utilisé, pour être réinvesti dans l’activité et prendre en charge le complément de condiments du foyer.
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