Cantik Indah Group
SA sells adult clothes -- Islamic fashions, jeans, blouses, and shirts -- on credit, from her house. She started this business four years ago. It is going very well. She can get profit of 100% on her capital, so she can send her child to university. In a day, she can get income of 500,000 IDR. SA will use her share of this loan to add to the goods she has in inventory.
SA and the other members of the "Cantik Indah" group are requesting financial support from VisionFund Indonesia for the third time, so that they can increase their working capital. “Cantik Indah” is a disciplined group, and the previous loans have been properly repaid. The other members' businesses are: selling clothes on credit, selling cosmetics, and selling vegetables.
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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