Group members are small retail merchants dealing in all kinds of plastic shoes, clothing, food and pots.
To increase their stock supply, the group decided to work with Soro Yiriwaso and are in their third group loan cycle.
Mrs. Kadia (the woman sitting on the far left in the photo) has a great reputation at selling all kinds of plastic shoes. She intends to use her loan to buy 100 pairs of shoes at wholesale prices at the main market. Retail sales are conducted in Djalakorodji to mainly women customers.
Mrs. Kadia 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 through her relationship with Soro Yiriwaso.
Madame Kadia(femme assise à l’extrême gauche sur la photo) a une grande réputation dans la vente des chaussures plastiques de toutes sortes. Elle compte utiliser son prêt pour acheter 100 paires de chaussures en gros au grand marché.La revente se fait en détails à Djalakorodji et à une clientèle majoritairement composée de femmes. Madame Kadia 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