They are on their twelfth loan with the Soro Yiriwaso microfinance institution, to satisfy the needs of their customers.
Ms. Afou trades wax pagnes (type of colorful West-African fabric) in this group of women. She is standing in the second position from left to right.
She intends to use the loan to buy three dozen wax pagnes and retail them for cash on site and at the market to a clientele of women.
She plans to make an average monthly profit of 15,000 CFA francs, a portion of which will be used to pay the loan and its interest and the rest put into savings.
Elles sont à leur douzième prêt avec l’institution de micro finance Soro Yiriwaso, dans le souci de satisfaire le besoin de leur clientèle.
Mme AFOU fait le commerce de pagnes wax dans ce groupe de femmes. Elle se tien en deuxième position à partir de la gauche vers la droite.
Elle compte acheter avec son prêt 3 douzaines de pagnes wax et revend en détail sur place et au marché à une clientèle composée de femmes au comptant.
Elle envisage réaliser un bénéfice mensuel moyen de 15 000 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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Success!! The loan was 100% repaid