The got to know each other through bonds of community and through their money-earning businesses at the Sikoroni market. They retail condiments (tomatoes, cabbages, and parsley), cosmetics, potatoes, and clothing.
In order to increase their working capital, the members of the group decided to work with Kiva's partner, Soro Yiriwaso, from which they are seeking their first solidarity loan (group loan).
Mrs. Djénèba is the woman sitting in the center in the photograph. She's very well renowned as a seller of condiments (tomatoes, cabbages, parsley). She intends to use her loan to buy, wholesale in Bamako, 4 baskets of tomatoes, 6 sacks of cabbages, and 3 baskets of parsley.
She resells for cash and on credit, at the market and as a traveling saleswoman, to a clientele comprising mostly women. With this loan, she hopes to turn an average monthly profit of XOF 40'000, to be reinvested in her business and used to provide for her children and household.
Madame Djénèba (femme assise au milieu sur la photo) a une grande réputation dans la vente des condiments (tomates, choux et persils). Elle compte utiliser son prêt pour acheter 4 corbeilles de tomates, 6 sacs de choux, 3 corbeilles de persils à Bamako en gros. La revente se fait au comptant et à crédit au marché et en ambulant à une clientèle composée majoritairement de femmes. Madame Djénèba espère réaliser avec ce prêt un bénéfice mensuel moyen de 40 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et assurer l’entretien de mes enfants 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