The group members are retail traders of cosmetics (ointments, perfumes and hair extensions), plastic shoes, sand, rice, kitchen utensils, beverages and clothing. To increase their stock-in-trade, the group decided to work with Soro Yiriwaso and are on their first group loan cycle.
Mrs. Aminata (the woman at the far right in the photo) is a vendor of high-quality cosmetics (ointments, perfumes and hair extensions). She intends to use her loan to buy three cartons of perfumes, five cartons of ointments, and 10 packages of hair extensions in Bamako. Retail sales are conducted in Kanadjiguila to a clientele composed mostly of women.
Mrs. Aminata expects this loan will generate an average monthly profit of 50,000 CFA francs, to be reinvested in the business and used to meet small household needs.
Madame Aminata (femme à l’extrême droite sur la photo) est une vendeuse de produits cosmétiques (pommades, parfums et mèches) de meilleures qualités. Elle compte utiliser son prêt pour acheter 3 cartons parfums, 5 cartons de pommades et 10 paquets de mèches à Bamako. La revente se fait en détails à Kanadjiguila à une clientèle composée majoritairement de femmes. Madame Aminata compte avoir avec ce prêt un bénéfice mensuel moyen de 50 000 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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