She seeks help from RMCR to buy the seeds and fertilizer she needs for market gardening, which she’s been doing for the past 9 years. She earns 200,000FCFA per loan cycle or 35,000 FCFA per month, which allows her to cover her family’s daily expenses. She uses her loans to buy seeds (peppers, onions, tomatoes). She buys her supplies in nearby markets and sells her products in the same markets. Despite difficulties she’s had with rainfall predictions, she loves that her income helps her contribute to her family.
In the future, she would like to help her husband with his dream project: to build a comfortable home, to secure their family’s healthcare needs, and to have the equipment they need for farming (cows, plowing, and drills).
More information about this loan
This loan is part of RMCR’s community bank loan program. Borrowers are organized into groups of 10-35 members, are mutually responsible for repayments, and can access voluntary savings services. Group members can use loans for any income-generating activity. Common activities are farming, raising livestock and commerce. Terms and payment frequency can vary according to borrowers’ business cycles. By supporting this loan, you’re helping borrowers access credit and support each other through the loan process.
Réseau de Micro-institutions de Croissance de Revenus (RMCR) is an NGO that provides credit to low-income communities in rural Mali. The organization offers community bank loans, from which borrowers can graduate to solidarity groups, and from there to individual loans. RMCR customizes the loans it offers in order to fit the unique business cycles of livestock, farming, and commerce activities.
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.