Sari Wangi Ternak Group
Update on Sari Wangi Ternak GroupThe Sari Wangi Ternak Group is located in Pemuteran village, north Bali. Their place is near a tourism destination. As the villagers, most of their daily life is spent at their garden. Beside becoming farmers, they also raise pigs at home to get more income. The Sari Wangi Ternak succeeded in selling all of their pigs and they were satisfied with the results. With good treatment, all the pigs can grow healthy and be free of disease.
Ni Kadek sold her three pigs to the big buyer. She earns a profit, and the result can support her family needs. She is also setting aside savings for future needs.
Now she and the Sari Wangi Ternak request a new loan to increase the population of pigs, buy feed, and also renovate the cage. With only five members, the group receives 7,500,000 IDR.
Ni Kadek receives 1,500,000 and uses it to purchase superior piglets. She’s still with fattened pig plan.
She has a dream to support her children's education until a high level from the pig business. And now she has started to saving all the profit. Her daily needs will be fulfilled from her husband's income, and also from her garden.
She said thank you to all Kiva and MUK lenders for giving her and the group an opportunity to develop their life by receiving the loan and training.
Previous Loan DetailsAfter having calculated and evaluated the last period, the Sari Wangi Ternak group decided to continue their loan. The loan is used for increasing their pig business by purchasing new piglets or quality feed. The group received the same loan amount in which each of them get 1,5M IDR. Ni Kadek us... More from Sari Wangi Ternak 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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