Bun Lestari Group
Update on Bun Lestari GroupThe group paid off all the previous loan on time. They sold the pigs with a good price. Now, the price for pork is about 25,000 IDR (Indonesian rupiah) per kilogram. Ni Wayan, the head of the group, maintained four superior pigs and all sold. She gained a profit of 2,000,000 IDR for all. She’s really grateful for that. She has a plan to use the profit to renovate her kitchen and for savings. During the last loan period, she didn't have a problem. All the pigs grew well. She said thanks to lenders, Kiva and MUK for supporting her business.
The Bun Lestari group is a group of women in the village who have the same effort: pig farming. They are joined in groups to get funding and training from MUK.
Ni Wayan is married with one child still in elementary school. Ni Wayan is using a loan to buy four piglets that will be maintained for five months for fattening. The remainder of the loan will be used to buy pig feed.
Ni Wayan spends 5,000 IDR for the kitchen per day and 100,000 IDR to pay for electricity and water per month. Although her business is still small, Ni Wayan hopes this business can support her child's education to buy books and for other school purposes, beside the kitchen needs.
Previous Loan DetailsBun Lestari Group is renewing their relationship with MUK. To increase the price they get for their pigs, the group changed the method of maintaining the pigs. Some members still maintain sows, and the other members raise either super-quality pigs for fattening or local pigs for pork roll. With… More from Bun Lestari 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