Kuncup Mekar Group
However, there is a change of group members. There were ten members in cycle one. For the second cycle, it was changed to eight members, and one member is a new entry. Kuncup Mekar, this group, still has a wide variety of business efforts, such as catering for offices, grocery shop, clothes and bed linens, credit, household appliances, and selling small meals or snacks. Their fellow members cooperate with each other and remind each other and support each other, so it has lasted for eight years. With this loan from Kiva, they are eager to expand their businesses, increase the types of foods, and add more equipment adequately.
The group is led by a woman named Lulu. She is married and has three children, two of whom are in school. Her husband works as a driver on a passenger boat. Lulu opened a catering services business in her home, and has to do all herself because she has not been able to pay auxiliary help power.
Together with her husband, Lulu is trying to fill food orders for the offices she serves. She hopes with this loan, she can add equipment and a place to cook more rice boxes.
They are very grateful to Kiva and have completed one cycle smoothly.
About Yayasan Sosial Bina Sejahtera (YSBS)Yayasan Sosial Bina Sejahtera (YSBS) is a non-governmental organization that has worked on poverty reduction, food security, gender issues, education, public health, and climate change in Central Java, Indonesia for over 40 years. Kiva lenders can fund tuition loans for students attending YSBS’ maritime academy and senior vocational high school to help them launch their careers, or enterprise loans for rural groups of women participating in the organization’s microfinance program.
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.
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