In order to increase their working capital, the group work with the field partner, Soro Yiriwaso, and this will be their third group loan.
Korotoumou (sitting on the far right of the photo) has a well-earned reputation selling all sorts of food products. She will use her loan to buy five sacks of rice and ten sacks of millet at the market. She sells her products to various individual customers in Sirakoro Dounfing, and sometimes sells on foot.
Korotoumou hopes to earn a monthly average of 80,000 francs CFA, which will be reinvested in her business.
La cliente Korotoumou (femme assise à l’extrême droite sur la photo) a une grande réputation dans la vente des produits alimentaires de toutes sortes. Elle compte utiliser son prêt pour acheter 5sacs de riz et 10 sacs de mil au marché. La revente se fait en détail à Sirakoro Dounfing et en ambulant à une clientèle mixte. Madame Korotoumou espère réaliser avec ce prêt un bénéfice mensuel moyen de 80 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité.
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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