They got to know each other through bonds of community and through their money-earning businesses at the Kanadjiguila market. They retail clothes, such as embroidery, pagnes Wax (colorful African cloth), and light clothes. They also sell cosmetics and run food-serving businesses.
In order to bolster their working capital, the members of the group decided to work with Soro Yiriwaso, from which they are seeking their second solidarity loan (group loan).
Mrs. Aïchata is the woman standing on the right in the photograph. She's a big seller of clothes (embroidery, pagnes Wax, light clothes). She intends to use her loan to buy 70 pieces of Wax pagnes wholesale at the Grand Market.
She retails in Kanadjiguila to a clientele comprising mainly women. With this loan, she intends to turn an average monthly profit of XOF 80'000, to be in part reinvested in her business, and in part used to cover the daily needs of her household.
Madame Aïchata (femme debout à l’extrême droite sur la photo) est une grande vendeuse d’habits (brodés, pagnes wax et légers). Elle compte utiliser son prêt pour acheter 70 pièces de pagnes wax en gros au grand marché. La revente se fait en détails à Kanadjiguila à une clientèle composée majoritairement de femmes. Madame Aïchata compte avoir avec ce prêt un bénéfice mensuel moyen de 80 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et satisfaire les petits besoins du foyer.
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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