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KSPPS Benteng Mikro Indonesia
Approved to post Kiva loans from: Indonesia
KSPPS Benteng Mikro Indonesia (BMI) is a microfinance institution founded in 2003 in Indonesia. They offer a wide range of financial products including small business loans, housing improvement loans, high school loans and water/sanitation loans. KSPPS BMI is very invested in the success of their members and conducts a number of community empowerment programs at no cost to their members in addition to their lending programs. Their target population is low-income families in the Tangerang region of Indonesia.
A unique lending approach:
With the help of Kiva funding, BMI provides loans to households who lack the financial resources to access clean water and sanitation facilities. KSPPS BMI offers loans that will enable borrowers to build/access a clean water source, septic tank, and/or sanitation facility in their household. 39% of the Indonesian population does not have access to clean water or sanitation. This is a significant problem that has negative implications on health & nutrition across the country and on economic growth potential. Several organizations have come together to combat poor sanitation and help Indonesia meet its goal of universal access to clean water by 2019, and KSPPS BMI is a key partner in this area. KSPPS BMI has a goal of reaching 5,222 members with water & sanitation loans by the end of 2016 to improve the quality of life in low-income communities in Tangerang. Their water & sanitation loans are targeted towards their current members who have already received a business loan and proven their ability to pay back a loan. They are working with four construction partners who have extensive coverage of the area and will build the facilities for borrowers.
BMI was originally known as KPP-UMKM. They changed their name in November 2015 for branding and marketing purposes. They remain a cooperative and are owned by their members. The KSPPS part of their name stands for Koperasi Simpan Pinjam Dan Pembiayaan Syariah and denotes they are a cooperative running an Islamic savings and loan program.