Sumber Usaha Group
Update on Sumber Usaha GroupSumber 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 DetailsTo 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 »
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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Success!! The loan was 100% repaid