The women are all retailers of high-quality wax pagnes (traditional, wrap-around clothing), plastic shoes, cereals and soaps. All the members of the group would like to improve their income from their businesses so, they have decided to work with the field partner, Soro Yiriwaso. This will be their first group loan.
Malo (sitting on the far right of the photo) has built up a strong reputation for the high quality of the clothing which she sells. She will use her loan to buy ten wax pagnes from wholesalers at the main market. She will then resell them in Kanadjiguila on foot, to a clientele made up mainly of women. Malo hopes to make an average monthly profit of 25,000 francs CFA, which she will use to reinvest in her business and provide for some of the needs of her children.
Madame Malo (femme assise à l’extrême droite sur la photo) a une réputation dans la vente des habits (pagnes wax) de meilleures qualités. Elle compte utiliser son prêt pour acheter 10 pièces de pagnes wax en gros au grand marché. La revente se fait en détails à Kanadjiguila et en ambulant à une clientèle constituée majoritairement de femmes. Madame Malo espère réaliser avec ce prêt un bénéfice mensuel moyen de 25 000 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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