A loan of $700 helped purchasing cereals for re-sale.


Salimata's story

Salimata S., 34, is married and lives with her husband and her four children (two boys and 2 girls) in Banconi, and outlying neighborhood of the town of Sikasso (third administrative region of the Republic of Mali).

Salimata S., after having tried various businesses without success, decided to sell cereals (maize, millet, sorghum) 7 years ago. She has a little store in Kaboïla I opposite the Bank of West Africa (B.O.A.)

With the intention of better satisfying the needs of her ever-growing clientele, she decided to join the micro-finance institution Soro Yiriwaso 5 years ago. After 5 solidarity loans (group loans) in an association with women from her neighborhood (Association Kotognogontala of Banconi), she is now on her 4th individual loan and all the preceding loans have been correctly reimbursed. With this loan she intends to buy 23 sacks of maize, 10 sacks of sorghum, and 11 sacks of millet.

She does her buying in places near the town of Sikasso before selling either in bulk to a clientele composed in general of retailers, or retail, for cash or credit, to a clientele essentially composed of heads of families.

She expects to make, thanks to this loan, a monthly profit of 200,000 F CFA which will be used essentially to pay the interest on her loan and help support her family, investing any remainder back into her business.

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Translated from French by Kiva volunteer Teresa Kramer



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