Happy, who is in her late twenties, is single and has got a baby boy who is still young. She has been managing three projects which are close to each other. One is a grocery, selling soft drinks, beers, and spirits; second is gas supplier, where she fills and sells empty gas cylinders; lastly, she has a business, known as electronic money transfer (M-pesa and Togo pesa). Happy is in these business since 2007, and now is able to make a good monthly profit. She opens her businesses from 7:30 a.m. to 8:30 p.m. per working day.
From Tujijenge, Tanzania, this is her first loan request, which she will use to buy gas cylinders and grocery drinks to resell. Happy dreams of expanding her business and becaming rich. She will share this loan with her loan group, El-Shadia, which totals five members. The members of the group will hold each other accountable for paying back the loan.
About Tujijenge Tanzania
This loan is administered by Tujijenge Tanzania, which was founded in 2006. It has operations in Dar es Salaam, the coastal region, and the Lake Victoria region. The organization aims to reach out to micro entrepreneurs and provide them with financial and social intermediation services because capital is one of the major barriers to development and success for micro-enterprise initiatives in Tanzania.
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.