Awen Indah Group
Update on Awen Indah GroupAfter six months maintaining the pigs, the Awen Indah group paid off the loan to MUK. Recently was the right time to sell the pigs, because during one week was a big holiday for Hindusm and the price for pig was very expensive. They all sold the pigs together to a big buyer and earned a satisfactory profit. Ni Komang sold her pigs and all the profit will be used to purchase more piglets. She wants to increase the population of her piggery. Ni Komang has a plan to increase the quality of her pigs by giving them nutritious feed and vitamins, thereby she hopes she can earn more profit.
With this loan, the Awen Indah group continue its borrowing. In addition to developing the business by buying piglets, it will also be used to buy feed and fix cages. From the previous loan, they can save for venture capital. The new loan is used to develop the business. All members of the group feel very grateful for these loans because they can develop business and generate revenues to improve the welfare of their families.
Ni Komang will use her loan to buy two superior quality piglets and feed. She plans to keep pigs for fattening. She’s also purchased a sow with her own money. Ni Komang thanks to MUK, Kiva and lenders because of the support provided to develop the business and improve the welfare of her family.
Previous Loan DetailsEvaluated in the last period, the Awen Indah group decided to continue their loan with MUK. They still need the loan to increase their business and they will stop after they all have enough capital to run their businesses. Ni Komang will use her loan to purchase three superior piglets. To reduce ... More from Awen Indah 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
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Success!! The loan was 100% repaid