The group members run businesses selling outfits (wax and embroidered pagnes and damask cloth), drinks, incense, fish, vegetables and cosmetic products, or catering businesses. In order to increase their business funds, the members of the group have decided to collaborate with Soro Yiriwaso. This is their first solidarity loan cycle.
Sabou (picture sitting on the far right) is renowned for the outfits (wax and embroidered pagnes and damask cloth) and incense she sells. She will use her loan to buy 20 wax pagnes in Bamako. She will then resell her products to individuals in her neighborhoods, mainly women.
Sabou hopes that this loan will help her make an average of 50,000 CFA francs per month, which she will use to reinvest in the business and care for her children.
Madame Sabou (femme assise en 1ème position de la droite vers la gauche sur la photo) est une grande vendeuse d’habits (pagnes wax, brodés, bazins) et d’encens. Elle compte utiliser son prêt pour acheter 20 pièces de pagnes wax à Bamako auprès des grossistes. La revente se fait en détail dans le quartier à une clientèle composée majoritairement de femmes. Madame Sabou espère avoir avec ce prêt un bénéfice mensuel moyen de 50 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et prendre en charge l’entretien des enfants.
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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