Mt Kilimanjaro, TZ – Family receives second Vicoba loan, begins planning next loan – 19 Sep 2016

The MBN family successfully repaid their first Vicoba loan of 50,000 TZS (US $25) and have received a second loan for 100,000 TZS (US $50). The family requested the loan to help cover the costs of planting corn. They plan to repay the loan in January when they harvest the corn.

The MBN family began working with Lishe Bora in August 2014 when they started an organic vegetable garden. They joined the first Vicoba  (Village Community Banking) group Lishe Bora started in 2015 and received a loan of 50,000 TZS to purchase wholesale items to sell in their shop.

After they repay their current 100,000 TZS loan in January, they hope to receive a larger loan of 500,000 TZS (US $250) to expand their livestock projects raising chickens and pigs. This will increase their income security because they will have three sustainable sources of income: their shop, their farm, and their livestock.

The MBN family will need to maintain good credit with the Vicoba group to receive this larger loan. In addition, the group will need to continue increasing its capital and operating sustainably.