The group members have small businesses selling clothing (light fabric, "wax pagnes", which are highly decorative and colorful pieces of fabric, and damask), groundnut paste, cereals, and also practising restauration activities. With a view to expanding their businesses, the members decided to collaborate with Soro Yiriwaso and are on their first group loan cycle.
Mama, who is standing second from the left in the photo, has a great reputation for selling clothes (damask, "pagnes wax and light fabrics) She is planning to use her loan to buy ten meters of damask fabric, 10 pieces of "pagnes" wax and 15 meters of light fabric) in Bamako. She resells her goods on a retail basis in Kanadjiguila and door-to-door to a mixed customer base. As a result of this loan, Mama hopes to make an average monthly profit of 40,000FCFA which will be used to reinvest in her business. Her aim is, through this relationship with Soro Yiriwaso, to buy a plot of land for habitation purposes.
Madame Mama (femme debout en 2ème position de la gauche vers la droite sur la photo) a une grande réputation dans la vente des habits (basins, pagnes wax, légers,...). Elle compte utiliser son prêt pour acheter 10 mètres de bazins, 10pièces de pagnes wax et 15 mètres de légers à Bamako. La revente se fait en détail à Kanadjiguila et en ambulant à une clientèle mixte. Madame Mama espère réaliser avec ce prêt un bénéfice mensuel moyen de 40 000 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