Total loan: $1,000
Sikasso, Sikasso, Mali / Services
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A loan helped to buy sewing machines and fabrics for resale.
Mr. Almoudou is over 45 years old, married and a father to 4 children. He lives with his family in Medina, a working-class district of the city of Sikasso. Unable to stay in school, he started to learn sewing over 30 years ago with his uncle in Sikasso. He has a sewing shop at the big market of Sikasso, and his clientele consists primarily of men, most of them fair-goers. His extensive experience earned him the complete trust of the other members of his profession, which has led to his becoming the president of the Supervisory Committee of the Guild of Tailors of Sikasso (Comité de Surveillance de l’Association des Tailleurs de Sikasso). Besides tailoring, he buys sewing machines in Lomé (Republic of Togo) and men’s fabrics for resale to Sikasso tailors. In order to meet the growing demands of his customers, he is seeking a fifth loan from the microfinance institution Soro Yiriwaso, which he joined about 3 years ago. This fifth loan will allow him to buy 10 sewing machines and accessories and 10 suiting fabrics. With this loan, he expects to earn a monthly profit of 330,000 FCFA, which he will use to cover the better part of his personal expenses, to help pay for the household expenses, and pay the loan interest. Any remainder will be invested in his sewing shop.