Isaya is in his early 30s, married and the father of one son who is enrolled in a local school. For the last four years, he has earned a living by running a grocery store. He works from 5:00 am to 11:00 pm every day and makes a fair monthly profit. He is applying for his ninth loan from Tujijenge Tanzania. He used the previous loans to restock missing items in his grocery store, buy several empty crates of sodas and beers and buy more chairs for his customers to use. He has paid back all these loans successfully and used the profits he earned to start building his house and to pay for household expenses. His dream is to one day become an international businessman. He will share this loan with his group, "WAJIBU," which has 12 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.