With the goal of renewing their cash supplies, the group members decided to join the microfinance institution Soro Yiriwaso and are now on their fourth solidarity loan.
Ms. Aminata (the woman sitting at the far right in the photo) is famous for selling clothing (used) of all qualities. She intends to use this loan to purchase 3 bales of secondhand clothing wholesale in Médine. By hawking, her sales are made to a customer base composed mostly of women paying with cash or credit in Sabalibougou.
With this loan, Ms. Aminata plans on making an average monthly profit of 100,000 francs CFA that will be used for reinvesting in her work and ensuring her children’s care at home.
Madame Aminata (femme assise à l’extrême droite sur la photo) a une grande réputation dans la vente des habits (Friperies) de toutes qualités. Elle compte utiliser son prêt pour acheter 3 balles de friperies en gros à Médine ; la revente se fait au comptant et à crédits à Sabalibougou et en ambulant à une clientèle composée majoritairement de femmes. Madame Aminata espère réaliser avec ce prêt un bénéfice mensuel moyen de 100 000 FCFA qui sera utilisé, pour être réinvesti dans l’activité et assurer l’entretien de mes enfants du foyer.
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