Basilia, who is in her early 50s, is married and has four children who are still going to school. She has been selling various kinds of clothes for three years. She works from 10 am to 7 pm daily and is able to make a fair monthly profit. This will be Basilia'a sixth loan from Tujijenge Tanzania. She used the previous loans to buy more types of clothes to sell door-to-door and to lend her money to people who pay her back with interest. She has paid back all her loans successfully. She used the profits to pay school fees and household expenses. She will use this loan to increase her stock and to buy different types of clothes to resell. Her dream is, one day, to be able to buy a plot of land and build her own house. Basilia will share this loan with the other members of Kisarawe One Group, which consists of twelve members. The members of the group will hold each other accountable for repaying 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.