With the goal of increasing their business inventory, the group members decided to collaborate with the the microfinance institution Soro Yiriwaso and are now on their second solidarity loan cycle.
Ms. Badjè (the woman standing second from the right in the photo) is famous for selling tubers (yams and potatoes) in her district. She intends to use her loan to purchase 350 kg of yams in Bamako. She makes her sales retail to mostly women customers.
With this loan, Ms. Badjè hopes to make an average monthly profit of 85,000 francs CFA that will be used for reinvesting in her business and ensuring her children’s care.
Madame Badjè (femme debout en 2ème position de la droite vers la gauche sur sur la photo) est une grande vendeuse de tubercules (igname et de la pomme de terre) dans le quartier. Elle compte utiliser son prêt pour acheter 350 kg
d’igname à Bamako. La revente se fait en détails au marché à une clientèle composée majoritairement de femmes. Madame Badjè espère avoir avec ce prêt un bénéfice mensuel moyen de
85.000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et assurer l’entretien des 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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