Glory Dewata Group
Update on Glory Dewata GroupAfter undergoing their first loan, Ni Wayan was able to repay their loans on time. During six months of maintaining pigs, Ni Wayan enjoyed satisfactory results. After the sales, Ni Wayan used the net gain from the overall sale of the pigs for her children's education and for the family. The group hopes to continue their loans in the second period. They said thank you to the lenders, Kiva and MUK for supporting their bussines.
Having succeeded in the previous period, the Glory Dewata Group proceeded to the next loan. Based on the assessment of MUK, the group received 20,000,000 IDR for the group and the individual members got 2,000,000 IDR each. Because most have been able to increase their number of pigs, the current loan was used to buy food and fix the cages. Ni Wayan used the loan to buy a local sow and build new cages. She was very pleased with her efforts. She hopes to become a big pig seller in her village and all the profits will be used to improve the welfare of her family and make her dream come true.
One member couldn't attend the meeting because of illness.
Previous Loan DetailsLike many Balinese women, Ni Wayan and the other members of the Glory Dewata group raise pigs in their yards to supplement their families’ incomes. Though many women support their families in this way, they may not know the best way to raise pigs to maximize income. Ni Wayan hopes that through t... More from Glory Dewata Group's previous loan »
More information about this loan
This loan is part of MUK’s effort to reach small business owners in rural areas of Bali in Indonesia. Borrowers often lack collateral to be eligible for working capital loans and are located in areas where access to microfinance is limited. MUK organizes borrowers into groups that cross guarantee one another, allowing them to qualify for a loan. By funding this loan you are providing underserved borrowers with crucial capital to sustain their existing businesses.
About Koperasi Mitra Usaha Kecil (MUK)This loan is serviced by Koperasi Mitra Usaha Kecil (MUK), a microfinance cooperative headquartered in West Bali, Indonesia. MUK’s mission is to provide chronically poor people in Bali with opportunities to improve their lives, while raising social awareness of economic and environmental issues.
Most MUK clients live in rural settings on less than $1.25 per day. MUK’s financial products are targeted to clients’ productive activities including small businesses, farming, and livestock rearing. MUK supports clients with training in household budgeting, livestock rearing, and small business management.
MUK provides services to clients of all races and religions. For more information about MUK, please visit its partner page. Also, consider joining MUK’s Kiva lending team, Friends of Mitra Usaha Kecil.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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