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Sumber Usaha Group
In this Group: Ni Wayan, Ni Nengah, Ni Gusti, Made*, Ni Nengah, Ni Nyoman, Ni Luh, Ni Nengah, Ni Ketut
* not pictured

Update on Sumber Usaha Group

Sumber Usaha group gets their new loan from MUK. Now there are 9 members, as one member resigned from the group because she move to another village, far away from her village now. (One member couldn’t attend the meeting because of illness.) The group's new loan request is 18M IDR. The loan will be used to buy piglets and repair cages. Ni Wayan, as the head of the group, is using the loan to buy 2 superior piglets and also feed. The price for the superior pig species is currently very expensive, ranging from 400,000 - 500,000 IDR. These pigs will be maintained for 5 months for fattening. Ni Wayan expects during the loan period the pig will be able to develop properly, without being attacked by disease. With this effort, she has a dream to fix her house.
The Sumber Usaha is a women's group. They run not only a pig business, but various kind of jobs to increase the incomes of their family, such as farming, selling at small kiosks, making religious articles, teaching, etc.

Previous Loan Details

To increase their businesses, the Sumber Usaha continued to borrow loans from MUK. They felt comfortable having the loan, because they also have been trained by the MUK staff. Ni Wayan is a housewife and her husband works as a farmer on his own land. After succeeding with the last loan, Ni Wa... More from Sumber Usaha Group's previous loan »

Additional Information

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

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

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.

Tags

About Indonesia

  • $4,458
    Average annual income
  • 92
    View loans »
    Indonesia Loans Fundraising
  • $4,841,400
    Funds lent in using Kiva
  • 11,193.0
    Indonesia Rupiahs (IDR) = $1 USD

Success!! The loan was 100% repaid

A portion of Sumber Usaha Group's $1,625 loan helped a member to buy two superior piglets and also feed.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Oct 18, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014