Ibrahimu, who is in his early 30s, is a photographer. He has been engaged in his photography business for the past 10 years and offers a broad scope of services. With his strong skills and solid experience, Ibrahimu is doing well in his business. He works from 8 a.m. to midnight daily and is able to make a profit each month. He and his wife have one son who is still very young.
This will be Ibrahimu's first loan request from Tujijenge Tanzania. He will use his loan funds to buy a projector to improve his photography business. He dreams eventually of owning a studio carriage for video production.
Ibrahimu will share this loan with his loan group, named Africa One, which totals 13 members. The members of the group 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.