In order to satisfy their clearly growing customer base, the group members decided to join the micro-finance institution Soro Yiriwaso and are now on their second group loan. The first one was properly repaid.
With this new loan, Ms. Fatoumata D. intends to buy 3 tonnes of grains (millet, fonio, peanuts, black-eyed peas, etc.) from producers of surrounding villages. Accepting cash or credit, she sells wholesale and retail at the house and at the Bougouni market. Her customer base is comprised of consumers and retailers.
With this loan, Fatoumata hopes to make a monthly profit of 55,000 francs CFA. Part of the profits will be used for her work, and the other part, for family expenses.
Afin de satisfaire leurs clientèles en nette croissance, elles ont décidé d’adhérer à l’institution de micro finance Soro Yiriwaso. Elles sont à leur deuxième prêt de groupe et le premier a été correctement remboursés.
Avec ce nouveau prêt Fatoumata D., compte acheter, 3 tonnes de céréales (mil, fonio, arachides, niébé etc.) auprès des producteurs des villages environnants. Elle effectue sa vente en détail et en gros, au comptant et à crédit, à domicile, dans le marché de Bougouni, aux consommateurs et revendeurs.
Avec ce prêt Fatoumata D. espère réaliser un bénéfice mensuel de 55.000 FCFA dont une partie sera utilisé dans les activités et l’autre partie dans les dépenses de la famille.
Important InformationSoro Yiriwaso is a microfinance institution that works primarily in rural and semi-urban areas of Mali to provide underprivileged communities with access to financial services.The organization facilitates access for disadvantaged clients, particularly women, to new resources and services, fostering solidarity and cooperation among its clients. Kiva lenders’ funds will enable Soro Yiriwaso to expand its outreach and target even more underserved Malians involved in business and agriculture.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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