To increase their business funds, the group members decided to collaborate with Soro Yiriwaso and are on their third group loan cycle.
Aminata (the woman standing second left to right in the photo) is a great saleswoman of high-quality men's and women's plastic shoes. She hopes to use her loan to buy 585 pairs of plastic shoes for all ages in Bamako. She will then resell the shoes in Kanadjiguila on the street to a clientele of mostly women.
With this loan, Aminata expects to earn an average monthly income of 95,000 FCFA which will be used to reinvest in her business and take care of small household needs.
Madame Aminata (femme debout en 2ème position de la gauche vers la droite sur la photo) est une grande vendeuse de, chaussures plastiques (hommes et femmes) de meilleures qualités. Elle compte utiliser son prêt pour acheter 585 paires de chaussures plastiques de tous les âges à Bamako. La revente se fait en détails à Kanadjiguila en ambulant à une clientèle composée majoritairement de femmes. Madame Aminata compte avoir avec ce prêt un bénéfice mensuel moyen de 95 000 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