Fassokounawolo 1 Group
With the goal of purchasing tools and stocking up on farm inputs, the group members found out about the microfinance institution Soro Yiriwaso and are now on their third farm loan cycle.
Ms. Korotimi (sitting first from the left in the photo) is a great leader of rainy season farm work in the village of N’gara. She intends to use her loan to plow her field, purchase seeds and manure, and then pay youngsters to weed her field. Sales of her produce are made in cash at the end of the rainy season to pay back her loan in order to have the income to support the children and, in part, the family too.
Madame Korotimi (1ère femme assise de la gauche vers la droite dans la photo) est une grande meneuse d’activités agricoles hivernales dans le village N’gara. Elle compte utiliser son prêt pour labourer son champ, s’acheter des semences et d’engrais puis payer les jeunes pour sarcler son champ. La vente de ses produits agricoles se fait au comptant à la fin de l’hivernage pour payer son prêt et afin d’avoir de revenu pour prendre la charge des enfants, et une partie de celle de la famille.
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