Putri Sari Group
Update on Putri Sari GroupThe Putri Sari group is located in Melaya, in west Bali. After this loan period, most of the members now have a sow and they can breed piglets. Breeding piglets requires expertise to make the piglets grow well and healthy. That’s why they need the loan, so they can purchase high quality feed and renovate the cage.
Ni Made has sold all of her piglets so far and she earns a satisfactory profit. She only needs to maintain them for two months. The profit is used for purchasing eggplant seeds and fertilizer. Ni Made and her husband plan to plant eggplant in their garden in this rainy season. Ni Made and all the members of Putri Sari say thank you for the loan and support they have had. This program has proved to increase their standard of living.
The Putri Sari now decide to continue their loans. Having sows, they need the loan to purchase feed and renovate the cage. But some of the members will also use the loan to buy a new sow. They want to breed more piglets.
Ni Made will use her loan to purchase a sow again. She plans to sell the piglets outside her village in order to earn more income. She hopes her plan goes well. All the members also expect the same: the business will go well, the sows will give birth safely, and the piglets will grow healthy. Ni Made will use her profit to support her children's education and fullfill her family's daily needs.
Three of the previous members have resigned and been replaced with new members.
Previous Loan DetailsEvaluated after the last loan, the Putri Sari receive their new loans with increasing loan size. Ni Made and four other members decided to increase their loan from 1.5 million IDR to 2 million IDR because they plan to purchase pigs to prepare them to become sows. Ni Made also purchased a pig tha... More from Putri Sari 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