With the goal of increasing their capital, the group members decided to collaborate with the microfinance institution Soro Yiriwaso and are now on their first solidarity loan cycle.
Ms. Fatoumata (sitting first from the right in the photo) is really renowned for her dyed cloth. She intends to use her loan to purchase 5 kg of dyes of different colors and some potash. She gets her supplies of these products at the big market.
To dye a length of damask fabric, you heat some water to over 100 degrees and then mix in some dyes and the potash, per a customer's wishes.
With this loan, Ms. Fatoumata hopes to make an average monthly profit of 75,000 francs CFA that will be used for reinvesting in the same business and ensuring her children's education. Her ambition is to participate in the different international fairs.
Madame Fatoumata (la 1ere femme assise de la droite vers la gauche) a une grande renommée dans la teinture. Elle compte utiliser son prêt pour acheter 5 kg de colorants de différentes couleurs et de la potasse. Elle s’approvisionne en ses produits au grand marché.
Pour teindre une pièce bazin, on chauffe de l’eau à plus de 100 degrés puis on fait le mélange des colorants et la potasse selon le goût de la cliente.
Madame Fatoumata espère réaliser avec ce prêt un bénéfice mensuel moyen de 75 000 FCFA, qui sera utilisé, pour être réinvesti dans la même activité et assurer la scolarisation de ses enfants.
Madame Fatoumata ambitionne de participer aux différentes foires internationales.
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