Group members trade condiments (peppers, tomatoes, eggplant, parsley), cosmetics, fish and food preparations. In order to increase their stock-in-trade, the group decided to work with Soro Yiriwaso and are on their second group loan.
Ms. Fatoumata (third position from right to left) is a great vendor of condiments. She intends to use her loan to buy eight baskets of tomatoes, three baskets of peppers, one basket of parsley and eight baskets of eggplant in Bamako. Retail sales are conducted in Niomirambougou to a clientele composed mostly of women.
With this loan Ms. Fatoumata hopes to achieve average monthly profits of 90,000 CFA francs, to be reinvested in the business and use to meet household needs.
Madame Fatoumata en 3ème position de la droite vers la gauche est une grande vendeuse des condiments. Elle compte utiliser son prêt pour acheter 8 corbeilles de tomate, 3 corbeilles de poivron, 1corbeille de persil et 8 corbeilles de d’aubergine à Bamako. La revente se fait en détail à Niomirambougou à une clientèle composée majoritairement de femmes. Madame Fatoumata compte avoir avec ce prêt un bénéfice mensuel moyen de 90 000 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