With the goal of increasing their business capital, the group members decided to join the microfinance institution Soro Yiriwaso and are now on their third solidarity loan.
Ms. Awa (the woman sitting at the far left in the photo) is famous for selling children’s clothing of the best qualities. She intends to use this loan to purchase 80 outfits wholesale. She gets her supplies at the big market. Her sales are made to a customer base composed mostly of women.
With this loan, Ms. Awa plans on making an average monthly profit of 80,000 francs CFA that will be used for meeting the children’s sundry needs. The rest will be used to invest in her work. She is counting a lot on the Soro Yiriwaso partnership to achieve her goals, which include expanding her business.
Madame Awa(Femme assise à l’extrême gauche sur la photo) a une grande réputation dans la vente des habits (enfants) de meilleures qualités. Elle compte utiliser ce prêt pour acheter 80 complets en gros. Elle s’approvisionne au grand marché.La revente s’effectue à Djalakorodji et au comptant à une clientèle composée majoritairement de femmes. Madame Awa compte réaliser avec ce prêt un bénéfice mensuel moyen de 80000 FCFA, qui sera utilisé pour satisfaire les petits besoins de ses enfants et investir le reste dans ses activités. Madame compte beaucoup sur le partenariat de Soro Yiriwaso pour l’atteinte de ses objectifs qui est l’élargissement de son activité.
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