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Total loan: $2,675
Bougouni, Sikasso, Mali / Retail
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Grotto Group's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped buy shoes.
Grotto Group's story
The Grotto group consists of seven married women who on average are 32 years old with four children. They live in nuclear families in the North Heremakono neighborhood of Bougouni. They became acquainted through neighborhood ties, friendship and commerce. To strengthen their financial capacity and improve their businesses, they joined the Soro Yiriwaso micro-finance institution where they are on their tenth loan. All nine previous loans have been fully repaid. This group of women trades shoes like Binta,the second woman sitting from right to left in the picture. She intends to use her loan to 200 pairs of shoes from wholesalers in Bougouni. She conducts her retail sales in the market and at home, for cash and on credit to a mixed clientele. She hopes to attain average monthly profits of 75,000 CFA francs to be invested in the business and used to repay the loan.