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6%

funded

18 days left

$3,650.00 to go

Total loan: $3,900

Benkadi Group

CIWARA, Mali / Animal Sales

A loan of $3,900 helps a member to buy cattle to resell in order to support his family.

Benkadi Group's story

Zoumana is the man who features the ram in the photo; he is 40 years old. In the photo he is alone is due to COVID-19. He lives in the rural area with his wife and his 6 children, including two girls in school, and 4 boys not in school. His wife is a housewife and she works in small business. He buys and sells his rams at fairs in his locality.
In view of the need, he requests a new loan to buy more rams for breeding in order to earn a forecast profit of 100,000F CFA which will allow him to pay for clothes and shoes for his children and their schooling.
Indeed Zoumana would like to go to large markets to earn more money in order to be financially independent.

In this group: Issa, Noudigui Aly, Yaya, Zoumana, Drissa

Translated from French by Kiva volunteer Caitlin LeClair. View original language description.

Zoumana est l’homme qui présente le bélier sur la photo, il est âgés de 40 ans. Sur la photo il seul a cause de COVID-19. Il vit dans le milieu rural avec sa femme et ses 06 enfants dont deux filles scolarisées et 04 garçons non scolarisés. Sa femme est ménagère et elle fait le petit commerce. Il achète et vend ses béliers dans les foires de sa localité. Vu la nécessité il sollicite un nouveau prêt pour acheter plus de béliers pour l’élevage dans le but de gagner un bénéfice prévisionnel de 100 000F CFA qui lui permettra de payer des habits et chaussures pour ses enfants et leurs scolarités. En effet Zoumana souhaiterai fréquenter les grands marchés pour gagner plus d’argent afin d’être autonome sur le plan financier.

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 16, 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?

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Repayment schedule

Show advanced

	Expected	Actual	Comments
Aug 2021	$3900.00	Available Aug 1

	Expected	Amount	Actual
Aug 2021
From borrower to Field Partner	Jun 16, 2021	2,086,412.25 XOF
From Field Partner to lenders	Aug 2021	$3900.00	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.