Salum, who is in his late 30s, is married, with two children who are still going to school. He has been running several businesses, selling cooking oil called alizeti, and running a general store. He has been in his business for seven months only. He works from 6am to 10pm daily and is able to make a good monthly profit.
This will be Salum's second loan from Tujijenge Tanzania. He used the previous loan to start selling cooking oil and he bought items for the general store. He has successfully paid back his loan. He used the profit to pay school fees and he covered household expenses. He is grateful for the loan.
Salum will use this loan to buy cooking oil, sugar, beans, backing flour, maize flour, salt, etc. He dreams of buying and preparing a big farm and planting alizet seeds to be able to get more cooking oil.
Salum will share this loan with his loan group, Wang'ae Group, which has 15 members who 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.