Mrs. Fatoumata (the third one standing from the left in the photo) is known in the Medien neighborhood as a vendor selling quality firewood and charcoal. She plans to use her loan to buy some cartloads of firewood and bags of charcoal. She sells out of her home, for cash, to a customer base composed of both men and women. With this loan, Mrs. Fatoumata hopes to achieve an average monthly revenue of 42,000 West African francs, one part of which will be reinvested in her business and the other used to cover the costs of condiments for her household.
Madame Fatoumata (3ème femme debout à gauche vers la droite dans la photo) est connue dans le quartier de Médine pour la vente des bois et charbon de bonne qualité. Elle compte utiliser son prêt pour acheter des chargements de charrettes en bois de chauffe et en sacs de charbon de bois. La revente se fait à domicile au comptant et crédit à clientèle composée d’hommes et de femmes. Avec ce prêt, Madame Fatoumata espère réaliser un bénéfice mensuel moyen de 42000 FCFA dont une partie sera réinvestie dans l’activité et l’autre pour la prise en charge des besoins du foyer en condiments.
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