Benkadi I Group
They joined the microfinance institution Soro Yiriwaso to sustain their farming activities during the rainy season, and this is their 7th time partnering with the MFI. All past loans were correctly repaid.
SALI grows groundnuts and rice. She is the member standing 2nd from the right in the group photo. She will use her loan to buy inputs and seeds, and to pay for the plowing needed to maintain 1 hectare of farmland.
After the harvest, the crops will be sold in the village and in Kebila to a clientele consisting of both men and women.
Sali expects to earn a profit of 150,000 FCFA, which she will use to repay her loan and to help her husband with day-to-day expenses.
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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This loan has been fully funded!