They sell quality secondhand clothing and condiments. In order to increase their working capital, the members of the group decided to work with Kiva's partner, Soro Yiriwaso, from which they are seeking their first solidarity loan (group loan).
Mrs. Niamè is the woman standing on the right in the photograph. She's renowned as a seller of best-quality secondhand clothing. She intends to use her loan to buy two bales of secondhand clothing wholesale at the market.
She retails at the market and as a traveling saleswoman, to a clientele comprising mainly women. With this loan, she intends to turn an average monthly profit of XOF 40'000, to be reinvested in her business and used to provide for her children's daily needs.
Madame Niamè (femme debout à l’extrême droite sur la photo) a une réputation dans la vente des friperies de meilleures qualités. Elle compte utiliser son prêt pour acheter 2 balles de friperies en gros au marché. La revente se fait en détail au marché et en ambulant à une clientèle constituée majoritairement de femmes. Madame Niamè espère réaliser avec ce prêt un bénéfice mensuel moyen de 45 000 FCFA qui sera utilisé, pour être réinjecté dans l’activité et subvenir aux petits besoins des enfants.
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