With the goal of increase 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. Maï (sitting at the far right in the photo) has a great reputation selling Wax, embroidered, and damask fabrics. She intends to use her loan to purchase wholesale 35 lengths of Wax 'pagne' cloth at the big market. Accepting cash or credit, she resells them to a customer base composed mostly of women in Sabalibougou and by going door to door.
With this loan, Ms. Maï hopes to make an average monthly profit of 75,000 francs CFA that will be used for reinvesting in her business and ensuring her children's healthcare at home.
Madame Maï (femme assise à l’extrême droite sur la photo) a une grande réputation dans la vente des pagnes wax, brodés, bazins. Elle compte utiliser son prêt pour acheter 35 pièces de pagnes wax au grand marché en gros. La revente se fait au comptant et à crédit à Sabalibougou et en ambulant à une clientèle composée majoritairement de femmes. Madame Mai espère réaliser avec ce prêt un bénéfice mensuel moyen de 75. 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