The group members engage in small-scale commerce selling different types of used clothing, firewood, charcoal, and cosmetics. In order to increase their business funds, the group members decided to collaborate with Soro Yiriwaso. This is their first group loan.
Alimatou (the woman standing on the far right in the photo) is a grand merchant selling different types of high quality used clothing. She plans to use her loan to buy a bale of clothing from Bamako. Sales will be made at retail in the market and from traveling around to a mixed group of customers.
From this loan, Alimatou plans to earn an average monthly profit of 60,000 francs CFA which will be reinvested back into her business and will be used to support her household expenses.
Madame Alimatou (femme debout à l’extrême droite sur la photo) est une grande vendeuse d’habits de la friperie de meilleures qualités et de tous les genres. Elle compte utiliser son prêt pour acheter une balle d’habits à Bamako. La revente se fait en détail au marché et en ambulant à une clientèle mixte. Madame Alimatou compte avoir avec ce prêt un bénéfice mensuel moyen de 60 000 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