Members of the group are retail traders of fish, grain cereals, clothes and charcoal. In order to resupply by paying cash, the group decided to work with Soro Yiriwaso and are on their third group loan cycle.
Mrs. Mariam (the woman standing at the far left in the photo) has a great reputation in selling all kinds of fish. She intends to use her loan to buy 115 kilos of fresh fish in Kabala along the Niger River. Retail sales are for cash and on credit, at the market and as an itinerant vendor, to a mixed clientele.
With this loan Mrs. Mariam hopes to achieve average monthly profits of 95,000 CFA francs, to be reinvested in the business and used to ensure their children's well-being.
Madame Mariam (femme debout à l’extrême gauche sur la photo) a une grande réputation dans la vente du poisson de toutes les variétés. Elle compte utiliser son prêt pour acheter 115kg de poisson frais à Kabala au bord du fleuve Niger. La revente se fait au comptant et à crédits au marché et en ambulant à une clientèle composée mixte. Madame Mariam espère réaliser avec ce prêt un bénéfice mensuel moyen de 95 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et assurer l’entretien de ses enfants.
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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