MBK VENTURA
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Website: www.mbk-ventura.com
Background: MBK Ventura was founded in 2002 and serves clients on the Indonesian island of Java. With an average loan size of $42, MBK focuses on serving the 21 million Indonesian households who make less than 70 cents a day and have no or very limited access to financial services.
Leadership: Dr. Shafiq Dhanani, Chairman and Founder of MBK Ventura
We hope that this partnership will bring positive change to the lives of Indonesia’s poor. With the support of Unitus, MBK will be able to offer financial services to thousands more people who would otherwise be unbankable.
Product offerings and clientele: MBK offers one 50-week loan product to poor, entrepreneurial women in rural areas of Java, Indonesia.
Highlights and growth strategy: With a population of 130 million, Java has a high concentration of poor people who historically have lacked access to financial services. MBK targets this market by offering small, low-cost loans to micro-entrepreneurs. Using the Grameen and ASA-Bangladesh lending methodologies, MBK plans to reach 240,000 of the working poor with microcredit by 2009, and 500,000 by 2011. MBK’s strong management team, portfolio quality, and transparent business structure will also be key to their continued success.
Meet an MBK Ventura client: Since joining MBK in 2003, Soimi's businesses have rapidly grown and in turn the quality of life for her family has dramatically improved. She has been able to purchase additional sewing machines and invest further in her duck eggs business.
