Teriya (Friendship) Group
Their principal business revolves around fish which is sold either fresh, smoked, or grilled. To expand the size of their businesses, the members of the group decided two years ago to join the credit program of Soro Yiriwaso. The amount of money they were allowed to borrow started off at 50,000 F CFA for their first loan and is now at 150,000 F CFA for their 5th loan. This loan will be used to buy cases of fish from Mopti (fifth region of Mali). Besides this primary business, some of the members of the group sell firewood.
Their products are sold at the various marketdays in the area as well as out of their houses. The women of the Teriya group help to cover family expenses and invest a part of the profit back into their businesses.
Elles mènent une activité centrée autour du poisson qui est soit vendu frais, fumé ou grillé. Pour augmenter la taille de leurs activités, les membres ont décidé d’intégrer le programme crédit de Soro Yiriwaso depuis deux ans. Le montant du prêt est passé de 50.000 FCFA au premier prêt à 150.000 FCFA pour le cinquième prêt. Le prêt actuel sera utilisé pour payer des cartons de poissons à partir de Mopti (Cinquième région du Mali). En plus de cette activité principale, certaines vendent du bois de chauffe.
Les produits sont vendus aux différentes foires de la zone ainsi qu’à la maison. Les femmes du groupe Teriya contribuent aux dépenses de la famille et injectent une partie des bénéfices dans leurs activités.
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