A loan of $800 helped to purchase a refrigerator and variety of beverages to sell.


Vincent Paul's story

Mr. VINCENT PAUL is 41 years old and lives with his four children and wife in the sub-prefecture of Ouelessebougou, Région de Koulikoro. VINCENT PAUL did not have the chance to go to school. Early on, he became interested in revenue-generating businesses, especially in the buying and selling of beverages and a variety of other goods. He learned this business from his maternal uncle, who used to be a major merchant of beverages and various goods. Concerned about satisfying his clearly growing customer base, he decided to collaborate with the microfinance institution Soro Yiriwaso. He is on his third individual loan, which will be used to purchase a refrigerator and 50 cases of alcoholic beverages and soft drinks from Bamako wholesalers. The products will be sold for cash or on credit at the retail level to a mixed customer base in Ouelessebougou and in surrounding villages. VINCENT PAUL hopes to make an average monthly profit of 60,000 francs CFA that will be used for repaying the loan, and the rest will be for reinvesting in his business.

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Translated from French by Kiva volunteer Daniel Kuey



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