With the goal of resupplying themselves with cash, the group members decided to collaborate with the the microfinance institution Soro Yiriwaso and are now on their third solidarity loan cycle.
Ms. Madjè (the woman sitting at the far right in the photo) is famous for selling the best quality beauty products. She intends to use her loan to purchase 50 packets of hair extensions and 5 boxes of ointments wholesale at the big market. Her sales are made retail to mostly women customers in Badialan III.
With this loan, Ms. Madjè hopes to make an average monthly profit of 100,000 francs CFA that will be used for reinvesting in her business. Her goal is to purchase a plot of residential land through this relationship with Soro Yiriwaso.
Madame Madjè (femme assise à l’extrême gauche sur la photo) a une grande réputation dans la vente des produits de beauté de meilleures qualités. Elle compte utiliser son prêt pour acheter, 50 paquets de mèches et 5 cartons de pommades en gros au grand marché. La revente se fait en détails au Badialan III à une clientèle majoritairement composée de femmes. Madame Madjè espère réaliser avec ce prêt un bénéfice mensuel moyen de 100.000 FCFA qui sera utilisé, pour être réinvesti dans l’activité. Elle a pour objectif d’acheter un lot à usage d’habitation dans cette relation avec Soro Yiriwaso.
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