This will be Maginga's 6th loan from Tujijeng Tanzania. He used the previous loans to buy chairs and tables, and he expanded the bar hall. He has paid back the loan successfully. He wants a loan to top up the products which are out of stock, and the drinks especiA. because they sell out fast. His dream is to open a hardware shop.
Maginga will share this loan with the Ulezi loan group, which has a total of 16 members. The members of the group will hold each other accountable in paying back the loan.
In the picture, Maginga is the first man on the left.
About Tujijenge TanzaniaThis loan is administered by Tujijenge Tanzania, which was founded in 2006. It has operations in Dar es Salaam, the coastal region, and the Lake Victoria region. The organization aims to reach out to micro entrepreneurs and provide them with financial and social intermediation services because capital is one of the major barriers to development and success for micro-enterprise initiatives in Tanzania.
For more information on Tujijenge Tanzania, please visit its partner page, or join its lending team.
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