With the aim of resupplying themselves by using cash, the group members joined the microfinance institution Soro Yiriwaso and are now on their seventh solidarity loan.
Ms. Sata (the only woman seated in the photo) is known in and around the village for selling quality grains. She intends to use her loan to purchase 5 sacks of rice. She resupplies herself with rice at the Cinzana Gare fair and sometimes in Ségou from the fair-goers of Niono (Zone Office du Niger). Retail sales are made in cash or on credit from her home. Her customer base is composed mostly of men.
With this loan, Ms. Sata hopes to make an average monthly profit of 40,000 francs CFA that will be used for reinvesting in business, to meet household needs, and to care for the children. Her ambition is to become a wholesale merchant selling grains in this partnership with Soro Yiriwaso.
Madame Sata (Seule femme assise sur la photo) est connue dans le village et environnants pour la vente des céréales de qualité. Elle compte utiliser son prêt pour acheter 5 sacs de riz. Elle se ravitaille en riz à la foire de Cinzana Gare et parfois à Ségou avec les forains de Niono (zone office du Niger). La revente se fait au comptant et à crédit à domicile à une clientèle composée majoritairement d’hommes. Madame Sata espère réaliser avec ce prêt un bénéfice mensuel moyen de 40 000FCFA qui sera utilisé pour être réinvesti dans l’activité, prendre en charge les besoins du foyer et l’entretien des enfants. Elle ambitionne devenir grossiste dans la vente des céréales 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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Success!! The loan was 100% repaid