Balakissa (shown standing second from the left in the photo) is a great merchant of condiments (vegetable-based sauces) of every type in the village of N'djebougouni and its surrounding areas. She plans to use her loan to buy a sufficient quantity of ingredients for condiments: onions, oil, garlic, tomatoes, eggplants and salt, from her supplier in Ségou. She resells her merchandise for cash, both at the market and from her home, to a clientele composed mainly of women. Balakissa hopes to earn an average monthly income of 20,000 Francs CFA with this loan, which will be used to pay for the children's needs and to increase her business capital.
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