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10%

funded

21 days left

$2,750.00 to go

Total loan: $3,075

Coprosem Group

Bla, Mali / Cereals

A loan of $3,075 helps a member to buy grains to resell in order to support her family's needs.

Coprosem Group's story

Malian, Sorofing is a housewife, aged 56 with two children (grandchildren). She opted for the warrantage loan, also called a stockage loan, which is a rural system of credit that consists, for a peasant organization or its producer members, of obtaining a loan by putting their production (of millet, sorghum, rice, corn, peanuts, etc) susceptible of increasing in value as a guaranty. This warrantage system has two principle objectives: to avoid small producers selling in the period that separates the end of the consumption of the harvest from the previous year and the exhaustion of the granary reserves and the following harvest during which the population is constrained to find other financial researches to buy food when the prices are lowest and to give them the possibility of accessing a loan.

In the photo, it is she who appears with her stock of grains. After the harvest, all the members put their stock in a store responding to the norms. The cooperative has many clients and partners that buy certified seeds in order to serve farmers. She can earn 125,000 FCFA as a minimum profit each cycle, which permits her to take care of her family.

In this group: Sorofing, Sitan, Moussa

Translated from French by Kiva volunteer Hannah Ridge. View original language description.

Malienne, SOROFING est une ménagère âgée de 56ans avec 02 enfants (petit-fils). Elle a opté pour le crédit warrantage, aussi appelé crédit stockage, étant un système de crédit rural qui consiste, pour une organisation paysanne (OP) ou ses membres producteurs, à obtenir un prêt en mettant en garantie leur production (de mil, sorgho, riz, maïs, arachide etc.) susceptible d’augmenter de valeur. Ce système de warrantage a deux objectifs principaux : éviter aux petits producteurs de vendre juste après la période de soudure (période, qui sépare la fin de la consommation de la récolte de l'année précédente et l'épuisement des réserves des greniers, de la récolte suivante, durant laquelle la population est contrainte de se débrouiller pour trouver des ressources monétaires afin d’acheter des vivres) lorsque les prix sont au plus bas et leur donner la possibilité d’accéder à un crédit. Sur la photo c’est elle qui apparait avec son stock de céréales. Après la récolte, tous les membres conditionnent leurs stocks dans un magasin répondant aux normes. La coopérative dispose d’énormes clients et partenaires qui achètent des semences certifiées afin de servir aux agriculteurs .Elle peut gagner 125 000FCFA comme bénéfice minimum chaque cycle lui permettant de prendre en charge sa famille :

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: January 5, 2021

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
Sep 2021	$3075.00	Available Sep 1

	Expected	Amount	Actual
Sep 2021
From borrower to Field Partner	Jul 5, 2021	1,656,764.23 XOF
From Field Partner to lenders	Sep 2021	$3075.00	Available Sep 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.