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
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
- 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.