Total loan: $875
Drakoro, , Mali / Food
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N’Golo's loan finished fundraising,
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A loan helped to purchase grains.
N’GOLO is 61 years old and lives with his seven children and wife in DRAKORO, in Sous-Préfecture de KOURGOUBA, Région de Koulikoro (Republic of Mali). He did not have the chance to go to school. Early on, he became interested in revenue-generating businesses, especially the buying, stocking, and selling of grains. Concerned about satisfy his clearly growing customer base, he decided to collaborate with the microfinance institution Soro Yiriwaso. After correctly paying back the 5th loan, he is now on his 6th individual loan, which will be used to purchase 4 tonnes of grains (corn, millet, fonio) from peasant producers in and around DANGASSA and FARABA. He will keep the goods for at least three months. N’GOLO essentially sells wholesale to a customer base composed of retailers from big cities, such as Bamako or OUELESSEBOUGOU. He hopes to make an average monthly profit of 150,00 francs CFA that will be used to pay back the loan. The rest is for reinvesting in his business.