A loan of $1,025 helped to purchase replacement parts for automobiles to resell.


Cheick Oumar's story

Mr. Cheick Ouma, aged 27, is unmarried and lives at his father house in a large traditional family in Hamdallaye, a working-class district in Sikasso City (3rd administrative region of the Republic of Mali). Mr. Cheick Ouma did not have the chance to go far in school. Along side his brother in Sikasso, he soon became familiar over the years with selling replacement parts for automobiles. His store is located at the new market Médine Sikasso. Most of his customers are men, especially fair-goers. With such experience in this domain, he enjoys the complete trust of his customers. He purchases his merchandise and then resells the goods to them.

Concerned about satisfying the burgeoning orders, he is therefore requesting this second loan from the microfinance institution Soro Yiriwaso, where he has been in a partnership for about a year. The previous loan was correctly paid back.

This second loan will enable him to purchase 15 pairs of hubcaps, 10 pairs of cushions, 30 wheel rims of different qualities, and 5 extinguishers in Lomé (Republic of Togo). His customer base is composed of garage operators and individuals in Sikasso.

With this loan, he envisions making a monthly profit of 90,000 francs CFA. With the profits earned, he plans on resolving the most important of his personal expenses, help with family expenses, and pay back the loan with interest. The rest is for investing in his store.

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Translated from French by Kiva volunteer Daniel Kuey



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