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22%

funded

12 days left

$2,075.00 to go

Total loan: $2,675

Nieta-Baara Group

Diema, Mali / Animal Sales

A loan of $2,675 helps a member to buy animals to resell so he can take care of his family.

Nieta-Baara Group's story

This is Sadio, he is 35 years old, not formally educated, and lives in a rural commune in Mali.
He is married and has two children, who are 8 months old and 3 years old, and not in school. His hopes and dreams for the future are to develop his family in terms of education and health care and then to be financially independent. Given his unfavourable living conditions, he sought financial support from Micro Finance Institutions such as RMCR. Sadio goes to the nearby weekly markets for supplies and then sells his livestock for cash on the public market. The loan will be used to develop his sheep fattening business. His fattening business is profitable, with an estimated profit of 90,000 CFA francs after the sale in 6 months.

With 4 years' experience in the business, the feeding and maintenance of the animals is often lacking given the scale of the family's workload.

In this group: Gangara N°1 , Bougoury, Gangara N°2, Karounga, Sadio

Translated from French. View original language description.

Il s’appelle Sadio, 35 ans , non scolarisé , domicilié dans une commune rurale au Mali. Sadio est marié et père de 2 enfants, qui sont âgés de 8 mois à 3 ans tous non scolarisés. Son rêve et l’espoir dans l’avenir se posent sur l’épanouissement de sa famille en termes de l’éducation et les soins sanitaires, ensuite être financièrement autonomes. Compte tenu de sa condition de vie défavorable, il a sollicité le soutien financier de Institutions de Micro Finance comme le RMCR. Sadio fréquente les marchés hebdomadaires environnent pour l’approvisionnement puis il écoule ses bestiaux au comptant au marché public. Le prêt lui servira à évoluer son activité d’embouche ovin. Son activé d’embouche est rentable car son bénéfice prévisionnel est estimé à 90 000 Francs CFA après la vente dans 6 mois. Avec une expérience de 4 ans dans l’activité, l’alimentation et l’entretien des animaux font défauts souvent vu l’ampleur des travaux familiaux. NB: à cause de COVID-19 Sadio est seul sur la photo

This loan is special because:

It empowers farmers and entrepreneurs in underserved areas in Mali.

Manon Genouille, Kiva staff

Manon Genouille
Kiva staff

More about this loan

This loan is part of RMCR’s solidarity group loan program. Borrowers who have successfully completed several loan cycles with the community bank program graduate to this one and access slightly larger loans in groups of 2-9 members. Group members are mutually responsible for repayments and can access voluntary savings services. Group members can use loans for any income-generating activity. Common activities are farming, raising livestock and commerce. Terms and payment frequency can vary according to borrowers’ business cycles. By supporting this loan, you’re helping borrowers access credit and support each other through the loan process.

About Réseau de Micro-institutions de Croissance de Revenus (RMCR):

Réseau de Micro-institutions de Croissance de Revenus (RMCR) is an NGO that provides credit to low-income communities in rural Mali. The organization offers community bank loans, from which borrowers can graduate to solidarity groups, and from there to individual loans. RMCR customizes the loans it offers in order to fit the unique business cycles of livestock, farming, and commerce activities.

Loan details

Loan length:

8 months

Repayment schedule: At end of term

Disbursed date: December 10, 2020

Funding model: Flexible

Partner covers currency loss? No

Facilitated by Field Partner: Réseau de Micro-institutions de Croissance de Revenus (RMCR)

Is borrower paying interest? Yes

Field Partner risk rating:

Lenders and lending teams

Country: Mali

Field Partner: Réseau de Micro-institutions de Croissance de Revenus (RMCR)

Why Kiva works with this partner:

Kiva supports RMCR’s efforts to reach women borrowers in underserved communities. RMCR’s system also helps borrowers grow and reach new goals, graduating to different levels of loans.

Time on Kiva: 72 months

Kiva borrowers: 23,599

Total loans: $6,854,000

Average cost to borrower: 26% PY

Profitability (return on assets): -4.9%

Average loan size (% of per capita income): N/A

Delinquency rate: 5.69%

Loans at risk rate: 5.69%

Default rate: 1.86%

Currency exchange loss rate: 0.00%

More about Réseau de Micro-institutions de Croissance de Revenus (RMCR)

What is a Field Partner?

Comments and updates (0)

Repayment schedule

Show advanced

	Expected	Actual	Comments
Aug 2021	$2675.00	Available Aug 1

	Expected	Amount	Actual
Aug 2021
From borrower to Field Partner	Jun 10, 2021	1,432,722.19 XOF
From Field Partner to lenders	Aug 2021	$2675.00	Available Aug 1

*This loan is impacted by the COVID-19 crisis and your support is needed more than ever. Repayments may be delayed or lower than expected.