Sumber Mulia Group
Update on Sumber Mulia GroupThe Sumber Mulia group successfully repaid 5 previous loans. During the loan period, they raised the disease-free, healthy pigs. The pigs are fed nutritious feed and vitamins.
Ketut sold her local pigs and earned a good profit. She also sells piglets in her village. She’s very happy with the results. Her husband and family benefit. The children attend school and their daily needs are fulfilled.
She thanks the lenders, Kiva, and MUK for supporting her business.
The Sumber Mulia 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 the business themselves. They request a higher loan amount.
Ketut will use her loan to purchase 2 piglets. To reduce the cost, she uses a mix feed made from fish. Ketut works at the fish ponds and takes a dead fish to home to use it for pig feed.
She hopes that during the next 5 months, the pigs will be healthy and earn a satisfactory price. The profit will be used to reinvest in her business.
Previous Loan DetailsKetut wants to increase her business by raising local pigs for pigroll. She needs a new loan to purchase three local pigs and renovate the cage. The pigs for pigroll are usually kept for only two or three months and then sold. Her husband supports her business by helping her to feed the pigs and ... More from Sumber Mulia 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