A loan of $1,050 helped buying hardware items.


Siaka's story

Born on April 19, 1978 in Sikasso City, Mr. Siaka B. is a married man and a father of two children (a boy and a girl). He resides with his wife and children in a large traditional family with his parents and brothers in Lafiabougou, a suburb of Sikasso City (3rd administrative region of the Republic of Mali). Wanting to enter the working world, Mr. B. got started in the buying and selling of hardware. He currently has a hardware store at the main market of Sikasso. He is in high demand for the quality of his goods.

To satisfy his burgeoning customer base, he decided to join the loan program of the micro-finance institution Soro Yiriwaso over a year ago. After an initial loan, which was properly repaid, he is now on his second loan that will enable him to increase his working capital.

With this second loan, he intends to buy 20 boxes of welding rods, 12 containers of glue, 15 packages of paint, 70 meters of wire, 8 shovels, 5 picks, etc. He gets his supplies from wholesale merchants in Bamako and then sells them retail to a customer base composed generally of house builders (architects, entrepreneurs, masons, etc.)

With this loan, he envisions making a monthly profit of 250,000 francs CFA that will be used essentially for helping with family expenses and paying the loan interest. The rest will be invested in his business.

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Translated from French by Kiva volunteer Daniel Kuey



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