Members of the group are small retail merchants dealing in pagnes wax (colorful West-African fabric), food preparations, and grain cereals. To increase their stock-in-trade, the group decided to work with Soro Yiriwaso and are in their second group loan cycle.
Mrs. Rokia (the woman sitting on the far left in the photo) is a great seller of pagnes wax. She plans to use her loan to buy 40 lengths of pagne wax fabric in Bamako. Retail sales are made in N'tomikorobougou and as an itinerant vendor, to a clientele composed mostly of women.
Mrs. Rokia hopes to achieve with this loan an average monthly profit of 95,000 CFA francs, to be reinvested in the business and used to meet small household needs.
Madame Rokia (femme assise à l’extrême gauche sur la photo) est une grande vendeuse de pagnes wax. Elle compte utiliser son prêt pour acheter 40 pièces de pagnes wax à Bamako. La revente se fait en détails à N’tomikorobougou et en ambulant à une clientèle composée majoritairement de femmes. Madame Rokia compte avoir avec ce prêt un bénéfice mensuel moyen de 95 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et satisfaire les petits besoins du foyer.
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