Warna Sari Group
Update on Warna Sari GroupAs agreed, the Warna Sari Group made their payment on June 18, 2014. With 10 members, they made a payment together of 15.000.000 IDR. During the loan period, they managed the pigs well. With the instructions from their Vet, the group kept the pigs by giving them nutritious feed and vitamins.
Luh sold her piglets and earned a net profit of 1,500,000 IDR after deducting the cost of feed and making her payment. She’s really happy for that and decided to continue her loan to increase the number of her pigs. All the profits were used for her family's daily needs and school fees.
After calculating and evaluating the last period, the Warna Sari group decided to continue their loan. This new loan was used for increasing their pig businesses by purchasing new piglets or quality feed. The group received an increased loan amount. Each of them got 2.000.000 IDR.
Luh used her loan to purchase three super quality piglets for fattening. With her own money, she purchased feed and renovated the cage. She plans to sell the pigs near the holiday to get a good price. She hopes her plan runs well. She and the group still need advice and loan support for their bussines until they are ready and have enough capital to continue the business by themselves.
Previous Loan DetailsThe plans that were already drawn up at the beginning of the loan went smoothly. Sales of pork can be rotated within the group so that it is mutually beneficial. All members of the group got satisfactory results and they can meet the daily needs of their families and also set aside some for savin... More from Warna Sari 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
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- At end of term
- Jun 20, 2014
- Jun 28, 2014
- Currency Exchange Loss:
- Jan 17, 2015
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.