ELIZABETI is in her late twenties, and she is married with one daughter. The girl is still young. For a period of four years now, ELIZABETI has had a business selling clothes. She is doing fine in her project and her family also. She starts working from8:00 a.m. to 6:00 p.m. daily and is able to make a good profit per month.
This is her first loan from Tujijenge Tanzania which she will use to increase her stock of clothes to resell. ELIZABETI dreams to one day be able to build a nice house for her family and provide better education for her kid.
She will share this loan with her loan group "Juu Kwa Juu" which totals 11 members. The members 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.