The members of this group sell dry fish, dry gombo (okra), millet and firewood. In order to boost their businesses, they have joined Soro Yiriwaso and this is their second solidarity loan.
Sitting first from the left in the photo, Mariam owns a large shop in Markala in which she stores grains.
She is planning to use her loan to buy four sacks of millet from farmers in villages near Markala. She resells for cash or on credit to a retail customer base which mostly consists of men.
Thanks to this loan, Mariam is expecting average monthly profits to reach 40,000 CFA francs, which will be reinvested in her business and also used to buy the condiments that her family needs.
Madame Mariam (1ère femme assise sur la photo de la gauche vers la droite) a un grand magasin de stockage de céréales à Markala. Elle compte utiliser son prêt pour acheter 4 Sacs de mil avec les paysans des villages environnants de Markala. La revente se fait en détail au comptant et à crédit à domicile et au marché de Markala à une clientèle composée majoritairement d’hommes. Madame Mariam compte réaliser avec ce prêt un bénéfice mensuel moyen de 40 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et assurer les besoins du foyer en condiments.
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