They know each other as neighbors and friends as well as through their work. In order to bolster their financial capacity in order to improve their business, they have joined the microfinance institution Soro Yiriwaso and are now on their second loan. Their prior loan has been properly repaid. The group members sell cereals, which is the case of Mariam, for example, the first one on the right in the photo.
She plans to use her loan to buy 800 kg [about 1800 lbs] of corn from wholesalers in Bougouni. She sells at the market and out of her home, retail, for cash and on credit, to a customer base composed mainly of women. She plans to earn an average monthly revenue of 20,000 West African francs, which will be used to invest in her business and repay the loan.
Elles se sont connues à travers des liens de voisinage, d’amitié et de commerce. Pour renforcer leur capacité financière afin de mieux faire leur commerce, elles ont adhéré à l’institution de microfinance Soro Yiriwaso avec laquelle elles sont à leur deuxième prêt. Le précédent prêt a été correctement remboursé. Ce groupe de femmes fait le commerce de céréales à l’image de MARIAM qui est la première femme arrêtée de droite vers la gauche. Elle compte acheter avec son prêt, 800 Kg de maïs avec les grossistes de Bougouni. Elle effectue ses ventes au marché et à domicile, en détail au comptant et à crédit à une clientèle composée essentiellement de femmes.
Elle envisage réaliser un bénéfice mensuel moyen de 20.000FCFA qui sera investi dans les activités et rembourser le prêt.
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