With the goal of building up their cash again, the group members decided to collaborate with the microfinance institution Soro Yiriwaso and are now on their third solidarity loan cycle.
Ms. Mariétou (the woman sitting in back at the far right in the photo) has a great reputation for selling fabrics (damasks, Wax 'pagne' cloth, sheers, …) She intends to use her loan to purchase 20 meters of damasks, 20 lengths of Wax 'pagne' cloth, and 25 meters of sheers wholesale at the big market. Retail sales are hawked to a mixed customer base in Badialan.
With this loan, Ms. Mariétou hopes to make an average monthly profit of 80,000 francs CFA that will be used to reinvest in her business. Her goal is to purchase a plot of residential land with this relationship with Soro Yiriwaso.
Madame Mariétou (femme assise derrière à l’extrême droite sur la photo) a une grande réputation dans la vente des habits (bazins, pagnes wax, légers,...). Elle compte utiliser son prêt pour acheter 20m de bazins, 20pièces de pagne wax et 25m de légers en gros au grand marché. La revente se fait en détail au Badialan et en ambulant à une clientèle mixte. Madame Mariétou espère réaliser avec ce prêt un bénéfice mensuel moyen de 80 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité. Elle a pour objectif d’acheter un lot à usage d’habitation dans cette relation avec Soro Yiriwaso.
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