They are on their eleventh loan with the microfinance institution Soro Yiriwaso, and they are taking this loan to meet the needs of their customers.
Bintou sells pagnes (colorful West-African fabrics) and other fabrics. In the photo, she is the woman standing in the middle of the group.
She plans to use her loan to buy 70 meters of fabric to make 30 pagnes which she will resell on a retail basis at the Grand Market and from home. Her customer base consists of men and women who pay her in cash.
Bintou is expecting to make an average monthly profit of 20,000 CFA francs, part of which will be used to repay her loan and the interest, while the extra money will be put into savings.
Elles sont à leur onzième prêt avec l’institution de micro finance Soro Yiriwaso afin de satisfaire le besoin de leur clientèle.
Mme BINTOU au milieu sur la photo fait le commerce de pagnes et de tissus.
Elle compte acheter avec son prêt 70 mètres de pagne, 30 pagnes qu’elle revendra en détail au grand marché ainsi qu’à la maison à une clientèle composée d’hommes et de femmes au comptant.
Elle envisage réaliser un bénéfice mensuel moyen de 20 000 francs CFA dont une partie est utilisée pour payer le prêt et son interêt et l’autre pour son épargne.
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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