Pudak Sari Wangi Group
Update on Pudak Sari Wangi GroupThe Pudak Sari Wangi group located in West of Bali. This group borrowed 7.500.000 IDR of loan and they can pay it off on time. The repayment represented by the head of the group, Ni Luh.
Ni Luh told us that the development of her pig business is running well. Before the loan, she only had 3 pigs and now because of the loan she has 5 pigs. Each pig grew fast and healthy. She sold the pigs after 2 months to pay off the loan. She also set aside for saving and to meet her family's daily needs. All the members of Pudak Sari Wangi feel the benefits from this business. They can support their husband's income. The group expects more training from MUK to improve their knowledge of pig breeding.
Entering the fourth loan, most of the member of Pudak Sari Wangi group have a sow and local pigs for pig barbecues. The local pigs will sell every two months.
As the head, Ni Luh sets a good example for her friends. Now she plans to purchase 5 super quality piglets for fattening. She’s really happy and thankful to Kiva, MUK and lenders for supporting her business and also the group. Now she can support her children education needs.
Previous Loan DetailsBecause the prices of feed are high, the Pudak Sari Wangi group goes on, with the same amount as before. At the time of disbursement of funds in the field, all members are able to attend the meeting. Each member gets 1.5 Million IDR. The loan will be used to buy superior quality piglets and feed... More from Pudak Sari Wangi 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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Success!! The loan was 100% repaid