With the goal of increasing their business capital, the group members decided to collaborate with the microfinance institution Soro Yiriwaso and are now on their first solidarity loan cycle.
Ms. Oumou (the woman sitting second from the left in the photo) is a major vendor of tubers and of fruit & vegetables of the best qualities in her neighborhood. She intends to use her loan to purchase 500 kg of yams at the market. Retail sales are made to a customer base composed mostly of women in Dibida.
With this loan, Ms. Oumou hopes to make an average monthly profit of 45,000 francs CFA that will be used to reinvest in her business and to ensure her children's care.
Madame Oumou (femme assise en 2ème position de la gauche vers la droite sur la photo) est une grande vendeuse de tubercules, de fruits et légumes de meilleures qualités dans le quartier. Elle compte utiliser son prêt pour acheter 500kg d’igname au marché. La revente se fait en détail au Dibida à une clientèle composée majoritairement de femmes. Madame Oumou espère avoir avec ce prêt un bénéfice mensuel moyen de
45 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et assurer 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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Success!! The loan was 100% repaid