In order to increase their business revenue, the women of the Djiguissèmè Group work with the field partner, Soro Yiriwaso. This will be their 14th group loan.
To satisfy the needs of her customers, Batou (standing on the far left of the photo), will use her loan to buy several bales of second-hand clothing in Bamako. She will resell them on credit from her home and at the market to a mixed customer base. Batou expects to earn an average of 50,000 francs CFA a month. She will use her earnings to provide for the needs of her children and increase the size of her business.
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