They got acquainted through their money-earning businesses at the market in Kanadjiguila. They buy and sell pasta, condiments (tomato concentrate, eggplants, okra, shallots, garlic, Jumbo bouillon cubes, baobab tree fruit powder, bay laurel, oil, etc), cosmetics, earrings, hair clips and necklaces. They also serve food such as attiéké (fermented cassava flour), potatoes and grilled fish, and do sewing.
In order to bolster their working capital, the members of this group decided to work with Kiva's partner, Soro Yiriwaso, from which their are seeking their first group loan.
Mrs. Mariam (first one sitting on the left) has a big reputation as a seller of pasta and tomato concentrate at the market in Kanadjiguila. She intends to user her loan to buy 20 boxes of pasta.
She gets her supplies at the Grand Market in Bamako. She resells for cash and on credit, at her home and at the market in Kanadjiguila, to a clientele comprising mostly women.
With this loan, Mrs. Mariam hopes to turn an average monthly profit of XOF 40'000 (ca US$ 80), to be reinvested in her business.
Madame Mariam (la 1ère assise à gauche) a une grande réputation dans la vente des pâtes alimentaires et des boîtes de tomates concentrées dans le marché de Kanadjiguila. Elle compte utiliser son prêt pour acheter 20 cartons de pâtes alimentaires. Elles s’approvisionnent au grand marché de Bamako et la revente se fait au comptant et à crédit à domicile et au marché de Kanadjiguila à une clientèle composée majoritairement de femmes. Madame Mariam espère réaliser avec ce prêt un bénéfice mensuel moyen de 40 000 FCFA, qui sera utilisé, pour être réinvesti dans l’activité.
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