Winangun Sari Group
Update on Winangun Sari GroupThe Winangun Sari group is made up of six men who are neighbors in the village in Penebel, in the middle part of Bali. The group is seeking a loan of 21,000,000 IDR, and each member will receive 3,500,000 IDR. The group was formed out of these men's common interest in raising pigs in order to supplement their family incomes, and out of their interest in education regarding the best practices for pig-raising. This is their fifth loan from MUK. I Nengah is the head of the Winangun Sari group. He is married and has one child. His wife earns money as a farmer. I Nengah will use his loan to buy superior piglets. He plans to sell the piglets after five months of fattening. With the increase in household income, he hopes to be able to repair his house.
Previous Loan DetailsTo increase their businesses, the Winangun Sari group continues to borrow loans from MUK with increasing loan sizes. They feel comfortable having the loan because they also have been trained by the MUK staff. After succeeding with the last loan, I Nengah is continuing to borrow a loan to purc... More from Winangun Sari Group's previous loan »
More information about this loan
This loan is part of MUK’s effort to reach small business owners in rural areas of Bali in Indonesia. Borrowers often lack collateral to be eligible for working capital loans and are located in areas where access to microfinance is limited. MUK organizes borrowers into groups that cross guarantee one another, allowing them to qualify for a loan. By funding this loan you are providing underserved borrowers with crucial capital to sustain their existing businesses.
About Koperasi Mitra Usaha Kecil (MUK)This loan is serviced by Koperasi Mitra Usaha Kecil (MUK), a microfinance cooperative headquartered in West Bali, Indonesia. MUK’s mission is to provide chronically poor people in Bali with opportunities to improve their lives, while raising social awareness of economic and environmental issues.
Most MUK clients live in rural settings on less than $1.25 per day. MUK’s financial products are targeted to clients’ productive activities including small businesses, farming, and livestock rearing. MUK supports clients with training in household budgeting, livestock rearing, and small business management.
MUK provides services to clients of all races and religions. For more information about MUK, please visit its partner page. Also, consider joining MUK’s Kiva lending team, Friends of Mitra Usaha Kecil.
Concurrent and Successive Loans
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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