In order to increase their business funds, the group members decided to collaborate with Soro Yiriwaso. This is their second group loan.
Aïcha (the woman standing on the far left in the photo) is a great seller of clothing (wax pagnes, embroidered pagnes, etc.). She plans to use her loan to buy 20 lengths of wax pagnes from Bamako. Sales will be made at retail in a market to mostly female customers.
With this loan, Aïcha hopes to earn an average monthly profit of 60,000 francs CFA which will be used to reinvest in her business and to support her family's needs.
Madame Aïcha (femme debout à l’extrême à gauche sur la photo) est une grande vendeuse des habits (pagnes wax,brodés, …). Elle compte utiliser son prêt pour acheter 20 pièces de pagnes wax à Bamako. La revente se fait en détail au marché à une clientèle composée majoritairement de femmes. Madame Aïcha compte avoir avec ce prêt un bénéfice mensuel moyen de 60 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et satisfaire les petits besoins du foyer.
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