With the goal of increasing their working capital, the group members decided to collaborate with the microfinance institution Soro Yiriwaso and are now on their first solidarity loan cycle.
Ms. Fanta, (first woman standing from the left in the photo) has a great reputation for selling hair extension, ointments, and lipstick of all kinds. She intends to use her loan to purchase several packets of hair extensions, containers of ointment, and lipgloss. Sales are made in cash or on credit at the market and by going door to door. Her customer base is composed of women.
With this loan, Ms. Fanta hopes to make an average monthly profit of 35,000 francs CFA that will be reinvested in her business to expand it.
Dans le but d’augmenter leurs fonds de commerce, les membres du groupe ont décidé de collaborer avec Soro Yiriwaso et sont à leur 1èr cycle de prêt solidaire.
Madame Fanta (1ère femme débout de la gauche vers la droite dans la photo) a une grande réputation dans la vente des mèches, pommades, des rouges à lèvre de toutes sortes. Elle compte utiliser son prêt pour acheter plusieurs paquets de mèche, des boites de pommade et crème à lèvre. La revente se fait au comptant et à crédit à domicile, au marché et en ambulant à une clientèle composée de femmes. Madame Fanta espère réaliser un bénéfice mensuel moyen de 35000 FCFA avec ce prêt, qui sera réinvesti dans l’activité pour agrandir son activité de commerce.
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