Kerta Jaya Amerta Group
Update on Kerta Jaya Amerta GroupThe Kerta Jaya Amerta group received another loan from MUK for Rp 15,000,000 for the 10 members and each member gets Rp 1,500,000. These loans are used to support the efforts of raising pigs.
Ni Nengah is using this loan to buy two superior quality piglets for fattening. The price today is Rp 400,000/piglet. The remainder of the loan is being used to buy feed. To reduce the cost of feed, Ni Nengah is feeding with traditional feed made from banana stems and various kinds of leaves.
Ni Nengah is pursuing this effort to support the family economy, particularly to buy a motorcycle.
Previous Loan DetailsKerta Jaya Amerta group received a third loan from MUK with a total loan of Rp 15,000,000. Each member receives Rp 1,500,000. Ni Nengah used the loan to buy three superior species of pigs at a price per piglet of Rp 300,000 and pig feed. In the next six months, she hopes her pigs will be sold at a… More from Kerta Jaya Amerta Group's previous loan »
About Koperasi Mitra Usaha Kecil (MUK)This loan is serviced by Koperasi Mitra Usaha Kecil (MUK), a microfinance cooperative headquartered in West Bali, Indonesia. MUK’s mission is to provide chronically poor people in Bali with opportunities to improve their lives, while raising social awareness of economic and environmental issues.
Most MUK clients live in rural settings on less than $1.25 per day. MUK’s financial products are targeted to clients’ productive activities including small businesses, farming, and livestock rearing. MUK supports clients with training in household budgeting, livestock rearing, and small business management.
MUK provides services to clients of all races and religions. For more information about MUK, please visit its partner page. Also, consider joining MUK’s Kiva lending team, Friends of Mitra Usaha Kecil.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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