Rinawati has a kiosk in front of her house in which she sells some kinds of instant drinks. She started her business 1 year ago. At first, she only sold some sachets, but now she can sell almost 1200 sachets a week. From this income she can pay for electricity, school fees, and her family's daily needs.
Rinawati and the other members of the Pianika group are requesting financial support from VisionFund Indonesia for the second time so that they can increase their working capital. Rinawati will use it to buy items like chocolate chips, sugar, cheese, and cookies to sell in addition to her instant drinks. She has a dream to see her child work in the embassy.
About VisionFund IndonesiaVisionFund Indonesia is a Christian micro venture capital organization owned by Mitra Masyarakat Sejahtera (MMS) and Wahana Visi Indonesia. Founded in 2000, VFI operates in both Jakarta and Surabaya, the two biggest cities in Indonesia. VFI targets the entrepreneurial poor who have existing microbusinesses for at least 6 months and have no financial access to commercial banks. VFI also provides microinsurance for all clients through a partnership with Allianz insurance company. With nine branches as of 2011, VFI hopes to expand in order to reach underserved microfinance markets in other islands of Indonesia.
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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