This will be Shaibu's second loan with Tujijenge Tanzania. He used his first loan to buy a large stock of soap and introduced this product to his store. This loan has been successfully repaid. With his second loan, Shaibu aims to once again expand his business, this time by introducing beer, soda and water to the products offered at the store. Shaibu hopes to one day be eligible for an individual loan with Tujijenge.
Shaibu will share this loan with his loan group Nazareth, which totals 20 members. The members of the group will hold each other accountable for repaying the loans.
In the picture Shaibu can be seen in the back row, 1st on the left, wearing a black shirt.
About Tujijenge TanzaniaThis loan is administered by Tujijenge Tanzania, which was founded in 2006. It has operations in Dar es Salaam, the coastal region, and the Lake Victoria region. The organization aims to reach out to micro entrepreneurs and provide them with financial and social intermediation services because capital is one of the major barriers to development and success for micro-enterprise initiatives in Tanzania.
For more information on Tujijenge Tanzania, please visit its partner page, or join its lending team.
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