The members of this group sell plastic shoes (for men and women), kitchen utensils, condiments and cosmetic products. In order to build up their stock levels, the women work with the field partner, Soro Yiriwaso. This will be their second group loan.
Fatoumata (standing on the far right of the photo) is well-known for selling plastic shoes (for men and women). She plans to use her loan to buy 600 pairs of plastic shoes for all ages, from wholesalers in Bamako. She will resell them in Sirakoro Dounfing, to mainly women customers. Fatoumata hopes to earn an average monthly profit of 90,000 francs CFA, which she will use to reinvest in her business and pay for healthcare costs for her children.
Madame Fatoumata (femme debout à l’extrême droite sur la photo) a une grande réputation dans la vente de chaussures plastiques (hommes et femmes). Elle compte utiliser son prêt pour acheter 600 paires de chaussures plastiques de tous les âges à Bamako en gros. La revente se fait à Sirakoro Dounfing à une clientèle composée majoritairement de femmes. Madame Fatoumata espère réaliser avec ce prêt un bénéfice mensuel moyen de 90 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et prendre en charge les soins de santé 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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Success!! The loan was 100% repaid