They have decided to join the microfinance institution Soro Yiriwaso in order to increase their businesses, and this is their first solidarity loan cycle.
Fatoumata (standing, first from the left in the photo) is a well known seller of pagnes of various kinds. She plans to use her loan to buy several sets of pagnes and a few bed sheets. She sells her merchandise for cash or on credit, from home, at the market and also door to door, to a retail customer base which mostly consists of women.
Thanks to this loan, Fatoumata is expecting to make an average monthly profit of 30,000 CFA francs which will be reinvested in her business in order to expand her commercial activity. Like the other members of the group, Fatoumata's goal is to continue to strengthen her business through partnership with Soro Yiriwaso.
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 Fatoumata (1ère femme débout de la gauche vers la droite dans la photo) a une grande réputation dans la vente des pagnes de toutes sortes. Elle compte utiliser son prêt pour acheter plusieurs pièces de pagnes et quelques draps. La revente se fait au comptant et à crédit à domicile, au marché et en ambulant à une clientèle composée majoritairement de femmes. Madame Fatoumata espère réaliser un bénéfice mensuel moyen de 30000 FCFA avec ce prêt, qui sera réinvesti dans l’activité pour agrandir son activité de commerce. Toute comme les autres femmes du groupe, Madame Fatoumata à pour objectif de pérenniser ses activités dans le partenariat avec Soro Yiriwaso.
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