Members of the group are retail merchants of plastic shoes (men and women) of all sizes, cosmetics, sand, beverages and food preparations. To increase their stock-in-trade, the group decided to work with Soro Yiriwaso and are on their first group loan cycle.
Mrs. Hadiaratou (the woman sitting on the far left in the photo) has a great reputation in selling plastic shoes (men and women) of all sizes. She intends to use her loan to buy 90 pairs of plastic shoes at the main market. Retail sales are made for cash and on credit in Kanadjiguila and sometimes as an itinerant vendor, to a clientele composed mostly of women.
Mrs. Hadiaratou hopes to achieve with this loan an average monthly profit of 40,000 CFA francs, which will be reinvested in the business to increase its volume.
Madame Hadiaratou (femme assise à l’extrême gauche sur la photo) a une grande réputation dans la vente des chaussures plastiques (hommes et femmes) de toutes pointures. Elle compte utiliser son prêt pour acheter 90 chaussures plastiques au grand marché. La revente se fait en espèce et à crédit à Kanadjiguila et parfois en ambulant à une clientèle composée majoritairement de femmes. Madame Hadiaratou espère réaliser avec ce prêt un bénéfice mensuel moyen de 40 000 FCFA qui sera utilisé pour être réinvesti dans l’activité afin d’augmenter son volume.
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