With plans to build up their inventory of goods, the group members decided to turn toward the microfinance institution Soro Yiriwaso and are now on their second solidarity loan.
Ms. Ramata (the woman standing at the far left in the photo) is a major vendor of plastic utensils. She intends to use this loan to purchase 80 bowls and 40 basins. She gets her supplies at the big market. Her sales are made by hawking, and sometime by special order, to a customer base composed mostly of women paying with cash or credit.
With this loan, Ms. Ramata plans on making an average monthly profit of 90,000 francs CFA that will be used for ensuring her children’s healthcare. Her goal is to increase her business volume through this partnership with Soro Yiriwaso.
Madame Ramata(femme debout à l’extrême gauche sur la photo) est une grande vendeuse d’ustensiles en plastiques.Elle compte utiliser son prêt pour acheter 80 bols et 40 baignoires. Elles s’approvisionnent en ustensiles plastiques au grand marché.La revente se fait au comptant ou à crédit en ambulant et parfois par commande à une clientèle composée majoritairement de femmes. Madame Ramata compte réaliser avec ce prêt un bénéfice mensuel moyen de 90 000 FCFA par mois, qui sera utilisé, pour assurer les soins de santé des enfants. Elle a pour objectif d’augmenter le volume de son activité dans ce partenariat 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