He has been running two types of businesses. One is buying shoes to sell and repairing shoes. He has also been selling charcoal for a year and a half now. He works from 7 a.m. to 6 p.m. daily, and he is able to make a fair monthly profit.
This will be Mustafa's second loan from Tujijenge Tanzania. He used the previous loan to start selling charcoal, and he also bought more shoes to resell and repaired more shoes because he had managed to get better shoe repair.
He is really happy with the loan because now he is leaving a happy life. He used the profit to pay school fees and household expenses, and he also bought a plot of land.
He will use this loan to buy more sacks of charcoal, more equipment for shoe repair, and more shoes to resell. He dreams of expanding his business.
Mustafa will share this loan with his loan group "KITUNGU," which has three members who hold each other accountable for paying back the loan.
About Tujijenge TanzaniaThis 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.
For more information on Tujijenge Tanzania, please visit its partner page, or join its lending team.
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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Success!! The loan was 100% repaid