They have joined Soro Yiriwaso in order to increase their businesses, and this is their first solidarity loan cycle.
Awa, sitting first from the left in the photo, is an important seller of firewood and charcoal in her neighborhood. She plans to use her loan to buy 40 bags of charcoal. She stocks up in villages surrounding Bamako. She resells her goods at the market, for cash or on credit, to a customer base which mostly consists of women.
With this loan, Awa hopes to make an average monthly profit of 50,000 CFA francs which will be reinvested in her business and also used to take care of her family. Like the other members of the group, her goal is to buy a plot of land to build a house.
Madame Awa (la 1ere femme assise à l’extrême gauche) est une grande renommée dans la vente du bois et du charbon dans le quartier. Elle compte utiliser son prêt pour acheter 40 sacs de charbon de bois. Elle se ravitaille dans les villages environnants de Bamako. La revente se fait au comptant et à crédit au marché à une clientèle composée majoritairement de femmes. Madame Awa espère réaliser avec ce prêt un bénéfice mensuel moyen de 50 000 FCFA, qui sera utilisé, pour être réinvesti dans l’activité et subvenir aux besoins de sa famille. Tout comme les autres membres du groupe, elle a pour objectif d’acheter un lot 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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