Group members run businesses such as selling firewood, food preparations, clothing, condiments and cosmetics. To increase their stock in trade, the group decided to join Soro Yiriwaso and are on their second group loan.
Mrs. Massaba (the woman sitting on the far left in the photo) has a great reputation at selling firewood. She intends to use this loan to buy one load of firewood wholesale. She gets her firewood from villages surrounding Bamako. Retail sales take place in Djicoroni, for cash to a clientele composed mostly of women.
Mrs. Massaba expects to achieve with this loan an average monthly profit of 80,000 CFA francs, which will be used to meet her children's small needs, and the remainder will be reinvested in her business activities.
She relies greatly on her partnership with Soro Yiriwaso to achieve her objective of expanding her business.
Madame Massaba (femme assise à l’extrême gauche sur la photo) a une grande réputation dans la vente du bois de chauffe. Elle compte utiliser ce prêt pour acheter 1 chargement du bois de chauffage en gros. Elle s’approvisionne du bois de chauffage dans les villages environnant de Bamako.La revente s’effectue à Djicoroni au comptant à une clientèle composée majoritairement de femmes. Madame Massaba compte réaliser avec ce prêt un bénéfice mensuel moyen de 80000 FCFA, qui sera utilisé pour satisfaire les petits besoins de ses enfants et investir le reste dans ses activités. Madame compte beaucoup sur le partenariat de Soro Yiriwaso pour l’atteinte de ses objectifs qui est l’élargissement de son activité.
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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