Group “Intan” began to form in October 19, 2009, and has been running 2 months short of 3 years. The group is located in a small town in Indonesia, specifically in the town of Cilacap. The group consists of 18 people, who have a variety of businesses like, selling clothes and shoes, selling snacks, soybean cake production, food stalls open to business, raising goats for sale. They support each other and complement each other. If one member is ill, they will raise funds to help offset the cost of treatment for the sick member. They will visit the sick person to hand over the funds to help. They have become a “Community“.
The group is led by a woman named Menik, she has three children who are still in school. Menik has a business selling clothes, bags, shoes and bed cover. With this loan, Menik hopes to build her own store and add a lot of models of clothes and new bags for sale to the public. These loans can also be expected to increase the business and earnings of each of the Intan group. In the picture, Menik raise her hand.
About Yayasan Sosial Bina Sejahtera (YSBS)
Yayasan Sosial Bina Sejahtera (YSBS) is a non-governmental organization that has worked on poverty reduction, food security, gender issues, education, public health, and climate change in Central Java, Indonesia for over 40 years. Kiva lenders can fund tuition loans for students attending YSBS’ maritime academy and senior vocational high school to help them launch their careers, or enterprise loans for rural groups of women participating in the organization’s microfinance program.
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.