They know one another as they live close together and also all have income generating activities in the Banconi-Farada market. The group members are traders of charcoal, traditional outfits made from waxed cloth, and smoked fish from Mopti.
With the goal of increasing their working capital, the members of the group have decided to work with Soro Yiriwaso and this is the first cycle of their group loan.
Miriam (the woman seated on the right of the photo) has a strong reputation locally and at the Banconi-Farada market, for selling clothing. She intends to utilise her loan to purchase 25 traditional waxed cloth outfits. She buys her supplies in the 'Grand Marché' in Bamako, and sells the products for cash in the market at Banconi-Farada - mostly to women.
With this loan she intends to generate an average monthly profit of 30,000 FCFA which will be used both to invest in her business, and to meet the family's needs.
Madame Mariam (1ère femme assise à l’extrême droite) a une grande réputation dans la vente des habillements dans le quartier et au marché de Banconi-Farada. Elle compte utiliser son prêt pour acheter 25 pièces de pagnes wax. Elle se ravitaille au grand marché de Bamako. La revente se fait au comptant au marché de Banconi-Farada à une clientèle composée majoritairement de femmes. Elle compte réaliser avec ce prêt un bénéfice mensuel moyen de 30 000 FCFA avec ce prêt, 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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Success!! The loan was 100% repaid