Fokognouma 4 Group
In order to have farm inputs available at the start of the planting season, they decided to work with Kiva's partner, the MFI Soro Yiriwaso, from which they are seeking their third farming loan. The members are going to grow peanuts, rice, okra, and black-eyed peas.
Mrs. Sitan (sitting on the left in the photograph) intends to use her loan to buy 50 kg of peanut seeds and hire the village's young people's association to carry out plowing and weeding work. She gets her supplies of seeds from the fair in Bancoumana.
With an area of one hectare, she intends to harvest 30 sacks of peanuts. One part will be sold to pay her children's school expenses, the other part will be consumed by her family.
Madame Sitan (femme assise à l’extrême gauche sur la photo) compte utiliser son prêt pour acheter 50kg de grains d’arachide de semence et utiliser l’association des jeunes du village pour effectuer les travaux de labour et de désherbage. Elle se ravitaille en semences à la foire de Bancoumana. Avec une superficie de 1,00ha, elle espère récolter 30 sacs d’arachide dont une partie serait vendue pour payer la scolarisation des enfants et le reste serait auto consommé en 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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