With the goal of increasing their business capital, the group members decided to collaborate with the the microfinance institution Soro Yiriwaso and are now on their second solidarity loan cycle.
Ms. Kandia (the woman sitting at the far left in the photo) is famous for selling quality peanut butter in any neighborhood. She intends to use her loan to purchase 4 sacks of peanuts wholesale at the market.
To make peanut butter, the best peanuts are selected, roasted, hulled, and then crushed in a mill. The paste prepared in this way is ready for retail sale to a customer base composed mostly of women.
With this loan, Ms. Kandia hopes to make an average monthly profit of 80,000 francs CFA that will be used for reinvesting in her business. Her goal is to maintain this relationship with Soro Yiriwaso in order to have much more money.
Madame Kandia (femme assise à l’extrême gauche sur la photo) a une grande renommée dans la vente des pâtes d’arachides de qualité dans tout quartier. Elle compte utiliser son prêt pour acheter 4 sacs de grains d’arachides en gros au marché. Pour faire la pâte d’arachide, on trie les meilleurs grains, les grille, les épluches et les Broie au moulin. La pâte ainsi faite est prête à la vente en détails à une clientèle composée majoritairement de femmes. Madame Kandia espère réaliser avec ce prêt un bénéfice mensuel moyen de 80 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité. Elle a pour objectif de maintenir cette relation avec Soro Yiriwaso afin d’avoir beaucoup plus d’argent.
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