With the goal of building 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. Ténin (the woman sitting at the far left in the photo) has a good reputation for selling Wax ’pagnes’ (the colorful cloth of western Africa). She intends to use this loan to purchase 20 lengths of ‘pagne’ cloth. 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 Sikoroni women.
With this loan, Ms. Ténin plans on making an average monthly profit of 40,000 francs CFA that will be used for ensuring her children’s education and healthcare.
Madame Ténin(femme assise à l’extrême gauche sur la photo) a une bonne réputation dans la vente d’habits (pagnes wax).Elle compte utiliser son prêt pour acheter 20 pièces de pagnes wax. Elles s’approvisionnent en habit 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 Sikoroni. Madame Ténin compte réaliser avec ce prêt un bénéfice mensuel moyen de 40 000 FCFA par mois, qui sera utilisé, pour assurer la scolarisation et 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