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3%

funded

19 days left

$2,350.00 to go

Total loan: $2,425

Benkadi Group

YOROSSO, Mali / Livestock

A loan of $2,425 helps a member to buy some animals for resale with the goal of taking care of his family.

Benkadi Group's story

Forty-six years old, Founka is an animal raiser (of sheep and cattle), living in Mali. He lives with his wife together with his 8 dependent children of whom 3 go to school. He contracted with RMCR to finance his business of animal raising, which he has done for some years and represents his group at following covid-19 hygiene rules. Founka buys supplies in the neighbouring markets and resells his animals in the same markets after a time of maintenance and nourishment and veterinary care. Despite the living conditions of his surroundings, he always appreciates this work because he can manage a peaceful life with his family. Founka wants to expand this business alongside RMCR to better meet his family's needs and to build a permanent house.

In this group: Founka, Mamadou, Diakaridia, Dramane, Doro, Sidi, Abdoulaye

Translated from French. View original language description.

Âgé de 46 ans, FOUNKA est un éleveur (ovin, bovin) résidant au Mali. Il vit avec sa femme ménagère et ses 08 enfants en charge dont 03 fréquentent l’école. Il contracte auprès du RMCR pour financer cette activité d’élevage qu’il pratique depuis quelques ans et représente son groupe suite au respect des signes d’hygiène COVID 19. Founka s’approvisionne dans les marchés environnants et revend ses animaux dans ses mêmes marchés après une période d’entretien en nourriture et soin vétérinaire. Malgré les conditions de vie de son environnement, il se réjouit toujours de cette activité par ce qu’il mène une vie paisible avec sa famille. Founka souhaite développer cette activité auprès du RMCR pour mieux répondre à ses besoins familials et construire une maison en dur.

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:

10 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?

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Repayment schedule

Show advanced

	Expected	Actual	Comments
Oct 2021	$2425.00	Available Oct 1

	Expected	Amount	Actual
Oct 2021
From borrower to Field Partner	Aug 10, 2021	1,301,240.75 XOF
From Field Partner to lenders	Oct 2021	$2425.00	Available Oct 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.