With the goal of bolstering their working capital, the group members have decided the Soro Yiriwaso loan program and are now on their third solidarity loan.
Mrs. Salimata (the first one from right to left in the photo) sells cereals at the Château market of Segou. She plans to use her loan to buy three bags of rice from vendors at the big market of Segou. She sells retail, for cash and on credit, out of her home and at the Château market of Segou, to a customer base composed mainly of men.
Thanks to this loan, Mrs. Salimata plans to achieve a monthly income of 50,000 West African Francs, which will be used to reinvested in the business and cover the costs of condiments for the household. Mrs. Salimata has a goal of stabilizing her business thanks to this partnership with Soro Yiriwaso.
Madame Salimata (1ère femme debout sur la photo de la droite vers la gauche) est une vendeuse de céréales au marché Château de Ségou. Elle compte utiliser son prêt pour acheter, 3 sacs de riz avec les forains de Niono, au grand marché de Ségou; La revente se fait en détail au comptant et à crédit, à domicile et au marché Château de Ségou, à une clientèle composée majoritairement d’hommes.
Madame Salimata compte réaliser avec ce prêt un bénéfice mensuel moyen de 50 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et prendre en charge les besoins du foyer en condiments. Madame Salimata a pour objectif de pérenniser son activité dans ce partenariat avec Soro Yiriwaso.
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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