Mahoni Kasih Group
Sri has been selling dishes from her food stall for the last year. The business runs smoothly and has been going quite well because there is not a lot of competition in her area. The income helps ensure that the children's needs for school such as fees and uniforms can be met.
This is Sri's second loan with VisionFund Indonesia. She will use this loan to increase the ingredients at her food stall by purchasing items such as pop ice, coffee, noodles, and rice. This will help her have more variety in her stall to hopefully draw more customers. She hopes that their family will continue to have enough money to pay for their children's education so that when they grow up they can have a better life.
The other group members will use their loans to help their businesses which include selling vegetables, selling cakes, selling household appliances on credit, and selling slippers, umbrellas, and shoes on credit.
About VisionFund IndonesiaVisionFund Indonesia is a Christian micro venture capital organization owned by Mitra Masyarakat Sejahtera (MMS) and Wahana Visi Indonesia. Founded in 2000, VFI operates in both Jakarta and Surabaya, the two biggest cities in Indonesia. VFI targets the entrepreneurial poor who have existing microbusinesses for at least 6 months and have no financial access to commercial banks. VFI also provides microinsurance for all clients through a partnership with Allianz insurance company. With nine branches as of 2011, VFI hopes to expand in order to reach underserved microfinance markets in other islands of Indonesia.
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