Prosper is the leader of the loan group “Twiga” (Swahili for “giraffe”), which has 16 members. The other members of his group have businesses dealing with sales of food, table tops, clothing, wood work, cattle, fish, and charcoal. Prosper knows every member of his group personA., since they are all neighbors and have businesses in the same locality. This group borrowed a previous loan together (minus 8 members who were replaced after the loan was repaid), and was able to pay it back successfully. They now hope for a new loan.
Prosper used the previous loan to buy fruits and vegetables for his stand. With the new loan, he hopes to purchase more stock and also enlarge his stall.
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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