Since 2008, he has had a retail shop, selling different products like airtime, dried foods, rice, beans, sugar, soaps, soft drinks, juices, soda, etc. He is doing fine with his enterprise as well as with his family. He starts working at 8 a.m. and works until 10 p.m. daily and is able to make good returns.
This will be his 10th loan request from Tujijenge Tanzania. With the previous loans, all of which he paid back successfully, he purchased more shop items like soaps and sugar. He usually purchases more sacks of rice during the harvest period at low prices and stores them up to resell later. With the profit received, he bought a plot of land and starting making bricks for house building.
He will use this loan to replenish more items like rice, airtime, soft drinks, etc. He hopes to expand his shop by restocking more items.
He will share this loan with his loan group, "Loyola," which totals 11 members. The members of the group will hold each other accountable for paying back the loan.
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