Kerto Sato Group
Update on Kerto Sato GroupThe Kerto Sato group succeeded in paying off their loan on time. All the members come to pay their own loans to the head of the group, Ni Ketut.
Ni Ketut’s daily life is as a housewife and also as a pig breeder. Her husband works as a farmer. From the last loan, she succeeded in maintaining the pigs. She sold the pigs for fattening. She earns a satisfactory profit and enough to fulfill her family’s needs and also save. She’s very happy and said thank you for the support she had.
The Kerto Sato group is receiving their new loan, and they are using it to support their pigs businesses.
Ni Ketut and her husband are hard workers, not only as farmers, but also as pig breeders. The loan will be used to purchase two piglets, 500,000 IDR each, and the rest of the loan for feed. Now the price for piglets and feed are very high. Ni Ketut needs to very wisely manage the loan and run the business to gets maximum profits in the end. She hopes that during the period, the pigs can grow fast and fat, away from diseases.
Ni Ketut and the members of Kerto Sato also hope MUK will still support the group until they have capital to run the businesses by themselves.
One member couldn’t attend the meeting because she had a religious ceremony at the Temple.
Previous Loan DetailsAfter their last 6-month loan, the Kerto Sato group can run their pigs business well. The pigs grew healthy and fat. They gave them nutrious feed and vitamins. The group also earned a high price when they sold the pigs. Most of them were satisfied with the result. The Kerto Sato group decided... More from Kerto Sato 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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