Members of the group are small retail traders of cosmetics (ointments, lip gloss, perfumes,...), hair extensions, peanuts and clothes. Wishing to set up their stock supply, the group decided to work with Soro Yiriwaso and are on their fourth group loan cycle.
Ms. Ami (the woman sitting on the far right in the photo) has a great reputation in selling cosmetics and better-quality hair extensions. She intends to use her loan to buy 50 packages of hair extensions wholesale at the great market. Retail sales are conducted in Kalaban-Coro to a clientele composed mostly of women.
Ms. Ami hopes to achieve with this loan an average monthly profit of 90,000 CFA francs to be reinvested in the business. She aims to buy a lot for residential use in this relationship with Soro Yiriwaso.
Madame Ami (femme assise à l’extrême droite sur la photo) a une grande réputation dans la vente des produits cosmétiques et de mèches de meilleures qualités. Elle compte utiliser son prêt pour acheter 50 paquets de mèche en gros au grand marché. La revente se fait en détails à Kalaban-Coro à une clientèle majoritairement composée de femmes. Madame Ami espère réaliser avec ce prêt un bénéfice mensuel moyen de 90 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité. Elle a pour objectif d’acheter un lot à usage d’habitation dans cette relation 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