Group members trade clothing (embroidered pagnes, pagnes wax and bazin fabrics), incense, powdered milk, sugar and mayonnaise. To increase their stock-in-trade, the group decided to work with Soro Yiriwaso and are on their first group loan cycle.
Ms. Sitan (second person from left to right in the picture) is a great vendor of clothing (embroidered pagnes, pagnes wax and bazin fabrics). She intends to use her loan to buy 5 lengths of embroidered pagnes and 10 lengths of pagne wax (colorful West-African fabric) in Bamako. Retail sales are conducted at the market and as an itinerant vendor to a clientele composed mostly of women.
With this loan Ms. Sitan hopes to achieve average monthly profits of 60,000 CFA francs, to be reinvested in the business and used to meet household needs
Madame Sitan en 2ème position de la gauche vers la droite sur la photo) est une grande vendeuse des habits (brodés, pagnes wax et bazins). Elle compte utiliser son prêt pour acheter 5 pièces de pagnes brodés, 10 pièces de pagnes wax à Bamako. La revente se fait en détail au marché et en ambulant à une clientèle composée majoritairement de femmes. Madame Sitan 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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