Subira, who is in her early 30s, is married with two children; one of them goes to school and the other one is still small. She has been running two businesses, selling charcoal and a stationary shop. She works from 6:00 a.m. to 6:00 p.m. daily and is able to make a very good monthly profit.
This will be Subira's 7th loan from Tujijenge Tanzania. She used the previous loans to open a stationary shop and increase on the charcoal stock, and has paid back all her loans successfully. She will use this loan to buy more sacks of charcoal and restock the missing items in the stationary shop. She used the interest to buy iron sheets, paid school fees and covered household expenses. She dreams of building her own house as she has already bought a plot of land.
Subira will share this loan with her loan group "RUFIJI", with 27 members who will hold each other accountable for paying back the loan.
About Tujijenge Tanzania
This loan is administered by Tujijenge Tanzania, which was founded in 2006. It has operations in Dar es Salaam, the coastal region, and the Lake Victoria region. The organization aims to reach out to micro entrepreneurs and provide them with financial and social intermediation services because capital is one of the major barriers to development and success for micro-enterprise initiatives in Tanzania.
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.