Sari Kencana Group
Update on Sari Kencana GroupAs the head of the Sari Kencana group, Jro Nyoman is responsible for coordinating all of the members to make their payments. The progress of the pig business this period is quite good and they can sell the pigs together and earn a profit. Jro Nyoman took care of seven pigs and they all sold. She sold each pig for 650,000 IDR, so she earned 4,550,000 IDR. After deducting the loan and paying for the feed, she can use the rest to fulfill her family's needs.
Seeing a significant result from the last period, the group asked for a new loan, and MUK approved that. Now the group will receive 10,000,000 IDR and each member will get 1,000,000 IDR. Jro Nyoman's primary job is being a farmer. She does the pig business in the morning and after coming home from her farm. She will use her loan to purchase superior piglets. To reduce the cost of feed, she’s also giving the pigs traditional feed made from various kinds of leaves such as banana leaf and cassava leaf. She hopes this new loan gives her more profit and welfare for her family. One member left the group for several reasons and she was replaced by a new member.
Previous Loan DetailsJro Nyoman and all the members of Sari Kencana group are getting their eighth loan. They decided to have the loan until they ready to run the business by themselves. Jro Nyoman still keeps her enthusiasm to run the business. She has two children and they are still in school. Jro Nyoman has a… More from Sari Kencana 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.
47View loans »
Success!! The loan was 100% repaid