With the goal of resupplying themselves with cash, the group members decided to collaborate with the the microfinance institution Soro Yiriwaso and are now on their third solidarity loan cycle.
Ms. Djénèba (the woman standing second from the right in the photo) is famous for selling onions. She intends to use her loan to purchase a tonne of onions wholesale in Bamako. Accepting cash or credit, she hawks her merchandise to mostly women customers.
With this loan, Ms. Djénèba hopes to make an average monthly profit of 70,000 francs CFA that will be used for reinvesting in her business and ensuring her children’s care.
Madame Djénèba (femme debout en 2ème position de la droite vers la gauche sur la photo) a une grande réputation dans la vente des oignons. Elle compte utiliser son prêt pour acheter une tonne d’oignon à Bamako en gros. La revente se fait au comptant et à crédits à Ouolofobougou et en ambulant à une clientèle majoritairement composée de femmes. Madame Djénèba espère réaliser avec ce prêt un bénéfice mensuel moyen de 70 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et assurer l’entretien de ses 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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