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Warna Sari Group
In this Group: Luh, Ketut, Luh, Made, Luh, Made, Ni Komang, Komang, Nyoman, Ni Ketut

Update on Warna Sari Group

The plans that were already drawn up at the beginning of the loan went smoothly. Sales of pork can be rotated within the group so that it is mutually beneficial. All members of the group got satisfactory results and they can meet the daily needs of their families and also set aside some for saving.

To further improve its business, the Warna Sari group went for a new loan. This loan was used to purchase local pigs for pork rolls. Pigs for pork rolls are sold every two months. Luh, besides maintaining sows, also used the loan to buy local pigs. Luh and all members of the Warna Sari group hope with this new plan they will be able to increase the income and welfare of their families.

Previous Loan Details

Warna Sari Group resumes their borrowing from Koperasi Mitra Usaha Kecil (MUK). To increase the price of piglets, they changed the method of maintenance. Some members still maintain a sow and the other members maintain super-quality pigs for fattening or local pigs for pork rolls. With this m... More from Warna Sari 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.

About Indonesia

  • $4,458
    Average annual income
  • 59
    View loans »
    Indonesia Loans Fundraising
  • $4,684,925
    Funds lent in using Kiva
  • 12,140.6
    Indonesia Rupiahs (IDR) = $1 USD

Success!! The loan was 100% repaid

A portion of Warna Sari Group's $1,250 loan helped a member to buy local pigs.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Dec 18, 2013
Listed
Dec 22, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014