Badenyaton Ii Group
Concerned about making their plantations profitable, the group members decided to join the loan program of the micro-finance institution Soro Yiriwaso two years ago. After having properly repaid their previous loans, they are now on their second farm loan.
SALI, who is standing third from the right in the photo with her hand placed on her child’s head, intends to use the current loan to pay for plowing and weeding and to buy a sufficient amount of peanut seeds, sundry supplies and equipment, and some inputs for farming. These items are purchased at the main market of Kimparana.
After wintertime, the harvested crops are stocked for a certain time, so that they gain value. And then they are sold retail (and often in bulk) and for cash at the main market of Kimparana and at surrounding markets. The customers generally come from large cities.
After selling the produce, the group members each plan on making a profit of 19,500 to 22,000 francs CFA that will be used for repaying the loan interest and for covering typical family expenses.
SALI, qui est debout, troisième à droite la main sur la tête de l’enfant, compte utiliser le prêt actuel pour acheter, des semences d’arachide, payer les frais de labour et sarclage, des petits matériels et des intrants agricoles pour la culture, au grand marché de Kimparana. Après l’hivernage, les récoltes sont stockées pendant un certain temps pour qu’elles aient de la valeur avant d’être vendues au grand marché de Kimparana et dans les marchés environnants, en détail (souvent en gros), au comptant à une clientèle venant généralement des grandes villes.
Les membres du groupe comptent réaliser chacune, après l’écoulement de leurs produits agricoles, un bénéfice de 19500 à 22000 FCFA qui sera utilisé pour le remboursement des intérêts du prêt et les dépenses courantes 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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Success!! The loan was 100% repaid