Total loan: $800
Sikasso, Sikasso, Mali / Food
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A loan helped to buy cereals for resale.
Mr. Bakary is a 36-year-old married man and father of three children. He lives with his wife and children in a nuclear family in Medina, a suburb of the city of Sikasso (third administrative region of the Republic of Mali). After attempting many occupations without success, Bakary was introduced to the activity of storage and sale of cereals (maize, millet, sorghum) three years ago. He has his own shop at the Medina market. Eager to better serve a growing customer base, he joined the microfinance institution Soro Yiriwaso a year ago and is now seeking his second loan. The first loan was successfully repaid. He will use this second loan to buy 25 bags of maize and 25 bags of millet from neighboring communities of Sikasso. These goods will be stored in his shop to be sold wholesale to a clientele consisting of retailers and heads of households. He expects to earn a monthly profit of 150,000 FCFA, which he will use primarily to help cover the household expenses and pay the interest on the loan. Any remainder will be reinvested in the business.