This will be his 6th Motisha loan from Tujijenge Tanzania. A Motisha loan is a product offered by Tujijenge Tanzania, given in the middle of the main loan that motivates borrowers with good credit ratings who pay back their loans smoothly to receive half the amount of the existing loan before their original loan term has ended. He used his previous loans to increase the range of items from the grocery, for household expenses and also started building his house. He has paid back his loans successfully. He hopes to increase the grocery store inventory. His dream is to one day be able to finish his house.
He will share this loan with his loan group "Subira" which has a total of 9 members who will hold each other accountable for paying back their loans.
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