Tanisem has two children, both of whom are school-age. She is married to a brick layer with an uncertain income. In order to supplement her husband's income, she produces various kinds of cake and fried snacks. Every morning, she starts making cakes at 1 AM until midday. She then sells her products in the nearby market. She is skillful in producing various kinds of traditional cakes. Tanisem will use this loan to buy ingredients (eggs, flour, butter, sugar) for her cakes and fried snacks. The additional income from the business will be spent on her children's school fees and also to pay their rent. She already has her own customers so competition is not a challenge for her; however, the seasonal floods are. Since she lives in a densely populated area near the river bank, floods might come 3-4 times a year.
Her goal is to be able to send her son to the maritime academy.
About VisionFund Indonesia
VisionFund 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.