Hassani, who is in his mid-40s, is married, with three children who are still going to school. He has been a tailor since 1970. He works from 7:30 a.m. to 8:00 p.m daily and is able to make a good monthly profit.
This will be his seventh loan from Tujijenge Tanzania. He used the previous loans to buy materials for his business, buy another sewing machine, and take care of his family. He has paid back all his loans successfully. He wants a loan to buy more materials and to pay his children's school fees. His dream is to one day be able to build his own house.
He will share this loan with his loan group "Tukolane." This group has a total of 20 members, who will hold each other accountable in paying back their loans.
About Tujijenge Tanzania
This 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.
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.