Benkadi 1 Group
They work with Kiva's partner, the MFI Soro Yiriwaso, in order to carry out their farming activities during the rainy season. They are seeking their sixth loan from the MFI, and the previous loans were repaid without problems.
Mr. Sory (sitting in the middle) is growing corn. With his loan, he intends to pay for plowing and buy fertilizers to maintain one hectare. After the harvest, the production is sold at the market in the village, to a clientele comprising both men and women.
He intens to turn a profit of XOF 190'000 (ca US$ 380) per planting. The profits will enable him to repay the loan and also take care of the daily expenses of his family.
Ils collaborent avec l’institution de micro finance Soro Yiriwaso afin de mener à bien leurs activités agricoles pendant l’hivernage.
lls sont à leur sixième prêt avec l’institution, les prêts passés ont été bien remboursés.
La spéculation cultivée est le maïs avec Mr Sory en position assise au milieu.
Avec son prêt, il compte acheter le labour et les engrais pour entretenir : 1 hectares.
La production est vendue au niveau du village, au marché après la récolte à une clientèle composée d’hommes et de femmes.
Il compte réaliser un bénéfice de 190 000 francs CFA par campagne.
Ce bénéfice lui permettra de payer son prêt et aussi a prendre en charge les dépenses quotidiennes 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