With the goal of increasing their business capital, the group members decided to collaborate with the microfinance institution Soro Yiriwaso and are now on their second solidarity loan cycle.
Ms. Ami (sitting second from the right in the photo) has a great reputation for selling the best quality of used clothing. She intends to use her loan to purchase wholesale 2 bales of used clothing in Bamako. Accepting cash or credit, she resells the goods to a customer base composed mostly of women in Sabalibougou and by going door to door.
With this loan, Ms. Ami hopes to make an average monthly profit of 50,000 francs CFA that will be used for reinvesting in her business and ensuring healthcare for the children at home.
Madame Ami (femme assise en 2ème position de la droite vers la gauche sur la photo) a une grande réputation dans la vente des habits de la fripouille de meilleures qualités; Elle compte utiliser son prêt pour acheter 2 ballons d’habits de la friperie à Bamako en gros. La revente se fait au comptant et à crédit à Sabalibougou et en ambulant à une clientèle composée majoritairement de femmes. Madame Ami espère réaliser avec ce prêt un bénéfice mensuel moyen de 50 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et assurer les soins de santé des enfants du foyer.
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