Concerned about buying enough bales of used items to augment their stocks, the group members decided to join the micro-finance institution Soro Yiriwaso and are now on their fifth group loan. The preceding ones have been properly repaid. With this new loan, they intend to buy 9 bales of used clothing and the like at the Bamako market. And then they will sell them at the Bougouni market to customers composed of women and men. The goods are sold retail in cash transactions or on credit.
With this loan, the group members each plan on realizing a profit of 45,000 francs CFA per month that will be used to cover the costs of educating the children.
Ces femmes se sont connues à travers des relations de mariage et font le commerce d’articles d’occasion (habits, chaussures, sacs etc).
Dans le souci d’acheter assez de balles de friperie pour augmenter leurs stocks, elles ont décidé d’adhérer à l’institution de microfinance Soro Yiriwaso.
Elles sont à leur cinquième prêt de groupe et les précédents ont été correctement remboursés.
Avec ce nouveau prêt elles comptent acheter, 9 balles de friperie sur le marché de Bamako pour ensuite les revendre dans le marché de Bougouni à une clientèle composée d’hommes et de femmes. Les produits sont vendus en détail au comptant ou à crédit.
Avec ce prêt les femmes comptent réaliser chacune un bénéfice mensuel de 45 000 FCFA par mois qui sera utilisé pour subvenir aux frais d’éducation des enfants.
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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