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Aug 28, 2016 2:14 EST

Mali: Yèrèdon Group – A loan of $2,225 helps a member to buy livestock for resale.

iCrowdNewswire - Aug 28, 2016

Yèrèdon Group

Mali
 
SOUROUTOUNA, Mali / Animal Sales
 
Borrower image
 

Yèrèdon Group’s story

Moussa fattens sheep for a living. He is 38 years old and lives in Mali. He is married with five children, two girls and three boys aged 3 to 15 years old, two of whom are school educated. In the group photo, he is the one standing by the ram. His wife is a homemaker.

Moussa has been doing this work for five years. He buys and sells the sheep at local markets.
He is seeking this loan from RMCR to increase his livestock and bolster his activity. Profits will be used to support household expenses.

Moussa’s ambitions are to become a leading fattener in his area and be an asset for his community.

In this group: Moussa, Moussa, Ladji, Oumar
*not pictured 

Translated from French by Kiva volunteer View original language description 

This loan is special because:

It empowers farmers and entrepreneurs in underserved areas in Mali. 

Nadia Costanzo
Kiva staff 

More about this loan

This loan is part of RMCR’s solidarity group loan program. Borrowers who have successfully completed several loan cycles with the community bank program graduate to this one and access slightly larger loans in groups of 2-9 members. Group 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.

About Réseau de Micro-institutions de Croissance de Revenus (RMCR):

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.

A loan of $2,225 helps a member to buy livestock for resale.

Contact Information:

Yèrèdon Group

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