They are in their first group loan with the Soro Yiriwaso micro-finance institution to meet the needs of their customers.
Ms. Afou, standing in the middle, trades in corn and cowpeas.
She intends to use the loan to buy about 500 kg of cowpea seeds from producing farmers, she will then resell for cash at retail prices at the market and in her family to a clientele composed of men and women.
She expects average monthly profits of 15,500 CFA francs, a portion of which is used to pay off the loan and its interest and the other for her savings..
Elles sont à leur premier prêt solidaire avec l’institution de micro finance Soro Yiriwaso afin de satisfaire le besoin de leur clientèle.
Mme AFOU debout au milieu fait le commerce de grains de maïs et de niébé.
Elle compte acheter avec son prêt environ 500 Kg de grains niébé auprès des paysans producteurs qu’elle revendra en détail au marché et en famille à une clientèle composée d’hommes et de femmes au comptant.
Elle envisage réaliser un bénéfice mensuel moyen de 15 500 francs CFA dont une partie est utilisée pour payer le prêt et son interêt et l’autre pour son épargne.
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