The first loan for the group Mentari is complete. It went well and good. The members of the group completed the loan smoothly and without a hitch. Loans from Kiva really mean a lot to the development of their businesses. The loan is very helpful for the business and increases the family income. Therefore, the group plans to take a second loan from Kiva for each member's retail store. Heriyani, the leader of this group, is remarkable because she provides encouragement to the members so that they can make their payments well. She has a business selling snacks to stalls or to the schools. She also opened a refreshment stall for ice juice. The benefits of this loan from Kiva mean very much to her life with her husband and their three children. This loan will be used to enable Heriyani to open a shop and buy cookware. She, on behalf of the group Mentari, says thank you very much to lenders who have helped in the development efforts of the members of the group.
About Yayasan Sosial Bina Sejahtera (YSBS)
Yayasan Sosial Bina Sejahtera (YSBS) is a non-governmental organization that has worked on poverty reduction, food security, gender issues, education, public health, and climate change in Central Java, Indonesia for over 40 years. Kiva lenders can fund tuition loans for students attending YSBS’ maritime academy and senior vocational high school to help them launch their careers, or enterprise loans for rural groups of women participating in the organization’s microfinance program.
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.