With the goal of consolidating their small businesses, the group members decided to collaborate with the microfinance institution Soro Yiriwaso and are now on their first solidarity loan cycle.
Ms. Djenebadjan (the first woman seated from the left in the photo) is a major seller of rice in and around the village of Djoni. She intends to use her loan to purchase 100 kg of rice. Sales are made in cash or on credit by going door to door in the village of Djoni. Her customer base is composed of men and women.
Ms. Djenebadjan plans on making an average monthly profit of 16,000 francs CFA that will be used to reinvest in the business and to ensure the children are cared for.
Madame Djenebadjan (1ere femme assise a gauche au debout du rang sur la photo) est une grande vendeuse de riz dans le village de Djoni et ses environnants. Elle compte utiliser son prêt pour acheter 100kg de riz. La revente se fait au comptant et à crédit dans le village de Djoni en ambulant à une clientèle composée d’hommes et femmes. Madame Djenebadjan compte réaliser un bénéfice mensuel moyen de 16.000 FCFA, qui sera utilisé pour être réinvesti dans l’activité et assurer l’entretien des enfants..
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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