Songambele Kibamba Group
With a loan from Kiva, Iddy hopes to increase his inventory and distribute more charcoal through his community. With the extra income from these sales, he will pay his children's school fees.
Iddy is part of a large group of borrowers. Their group name, Songambele, means "to go forward" in Swahili. They are all from the same area and operate a variety of businesses. With this loan they all hope to increase their savings and income to support themselves and their families. The group acts as a guarantee of payment, as each member is responsible for another.
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