Sari Rasa Group
Update on Sari Rasa GroupSari Rasa group succeeded in repaying their loan even though it was a few days from the due date. This was due to the inexpensive price of piglets today. Most of the group members keep sows and sell piglets. Because they are selling the piglets at the same time, the price of piglets goes down.
Ni Luh, as head of the group, feels the same thing. Luckily, she has an additional business as a farmer so that she does not lack everyday items. Ni Luh and all members of Sari Rasa group agreed to continue borrowing but changed the method of raising pigs to increase the selling price.
Sari Rasa group have resumed their lending from MUK. To increase the price of piglets, they changed the method of raising their pigs. Some members still keep sows and the other members keep super quality pigs for fattening or local pigs for pork roll. With this method, the sales of pigs will remain in this second group only. The members who have sows, will sell their piglets to the other members who raise pigs and fatten them for pork roll. The members who fatten pigs for pork roll will sell their pigs to the big buyers.
Ni Luh, as the head of the group, wasn’t able to attend the meeting because of illness. She was represented by the treasurer, Ni Nyoman. Ni Nyoman, in addition to being a pig breeder, also has a small kiosk in front of her house. She will use her portion of the loan to purchase piglets, feed and also snacks for her kiosk. She hopes all the efforts that they make will go well and that can earn a satisfactory profit.
Previous Loan DetailsBali is one of the attractions visited by foreign tourists and local people. In addition to its beautiful attractions, visitors to Bali can also see the most dominant industry - locals working in the agricultural sector. The people of Bali not only work in the fields, but also raise pigs. In this... More from Sari Rasa 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
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.
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Success!! The loan was 100% repaid