They have joined the microfinance institution Soro Yiriwaso in order to boost their financial capacity and pay cash for the goods they want to purchase. This is their first loan cycle.
They sell charcoal, traditional medications, wax, embroidered and damask "pagnes" (colorful West-African fabrics), condiments and children's clothes.
Bintou, first from the left in the front row, plans to use her loan to buy ten sets of children's clothes. She buys clothes at the Grand Market and resells for cash or on credit in Kalaban Coro, to a customer base which mostly consists of women.
Thanks to this loan, she is expecting to make an average monthly profit of 40,000 CFA francs, which will be reinvested in her business and also used to meet her family's needs. Her ambition is to buy a plot of land to build a house for her children.
Mme BINTOU (femme assise de la gauche vers la droite) compte utiliser son prêt pour acheter de 10 complets d’habits pour enfants. Elle se ravitaille en habits au grand marché. La revente se fait au comptant et à crédit à Kalaban Coro à une clientèle composée majoritairement de femmes. Madame BINTOU espère réaliser avec ce prêt un bénéfice mensuel moyen de 40 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et subvenir aux besoins de sa famille.
Madame BINTOU ambitionne acheter une parcelle à usage d’habitation pour ses enfants.
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