He is requesting a fourth loan through Tujijenge Tanzania which he will use to buy genge fruits and vegetables to resell. Ally used the previous loans (all of which he paid back successfully) to maintain his business stock of fruits and vegetables. His capital is now greater than before and he serves more people, though people still demand yet more additional products. He is so thankful for Kiva's loan support. He dreams that one day he will be able to open a big shop selling the same and other items. Ally gains a profit which he used to cover school fees and home food expenses.
He will share this loan with his loan group, Mbayuwayu, which totals twelve members. The members of the group will hold each other accountable for paying back the loan.
About Tujijenge TanzaniaThis 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.
For more information on Tujijenge Tanzania, please visit its partner page, or join its lending team.
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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Success!! The loan was 100% repaid