Singkarak Indah 1 Group
Lilis has a business in her house selling some kinds of clothes. She sells blouses, children's clothes, t-shirts and some kinds of adult clothes. She started her business 3 years ago. From this business, Lilis can supply her family's needs and help her to pay school fees. Her dream is to have a shop and expand her business.
Lilis and the other members of the "Singkarak Indah 1" group are requesting financial support from VisionFund Indonesia for the 2nd time so that they can increase their working capital. Lilis will use it to buy and add to her goods: blouses, t-shirts, and children's clothes. Having many competitors around her environment is her obstacle in running this business, but she enjoys it.
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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