Wanting to increase their working capital, the group works with the field partner, Soro Yiriwaso. This will be their second group loan.
Mariam (sitting on the far right in the photo) sells onions. She plans to use her loan to buy ten sacks of onions in Médine. She will then retail them on foot in Kanadjiguila, mainly to women. Mariam expects this loan to generate an average monthly profit of 90,000 francs CFA which will be reinvested in her business and used to provide for the needs of her household.
Madame Mariam (femme assise à l’extrême droite sur la photo) est une grande vendeuse de condiments (oignons). Elle compte utiliser son prêt pour acheter 10 sacs d’oignons à Médine. La revente se fait en détails à Kanadjiguila en ambulant à une clientèle composée majoritairement de femmes. Madame Mariam compte avoir avec ce prêt un bénéfice mensuel moyen de 90 000 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