Sari Makmur Group
Update on Sari Makmur GroupThe Sari Makmur group will be receiving their eighth loan through MUK, this one for 9,000,000 IDR, and will continue on raising pigs. This time they plan to grow pigs for pigroll (barbeque pig), which can be sold every two months.
Ni Ketut, this loan’s featured client, will be using her portion of the loan to buy four local piglets, as now the price for local piglets is more stable than that for superior piglets (good quality piglet). Her loan will also be used for more pig feed. She plans to sell the piglets after two months and then buy more.
The Sari Makmur group can repay a loan even beyond its due date. This is because the price of pork is not stable. During the period of the loan, the pigs’ growth can be maximized from being fed good food and vitamins. During this time, however, many breeders also sell their pigs. Prices become unstable, affecting anticipated profits. Although the group may earn little in profits during a cycle, it keeps on with this venture and expects eventual progress for its members’ efforts.
Ni Ketut hopes her piglet plan runs smoothly, and she earns more in profits. She also hopes MUK and Kiva will continue to support the group until its members have enough money to support their businesses themselves.
Previous Loan DetailsThe Sari Makmur group is requesting a loan in the same amount as their last loan. One member could not attend the meeting because of illness. Ni Ketut will use this loan to buy superior piglets and feed, and renovate the cage. She decided to choose the superior quality piglets because of the high... More from Sari Makmur 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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