Update on AraratArarat has a plot of land, where several greenhouses are located. Last time he obtained a loan and installed a fourth large greenhouse. This year, Ararat plans to install another greenhouse and provide heating for two greenhouses. He also started to make repairs in his house, where he lives with his wife and two children. Ararat loves his business and plans to develop it further because this business is very promising for this region.
Previous Loan DetailsArarat is married with three sons. He and his wife have a family business - growing early spring vegetables (tomatoes, cucumbers, etc) in greenhouses. They have been in this business for eight years. Hard work and persistence have helped them to develop this business well. Today, Ararat has got… More from Ararat's previous loan »
About HOPE UkraineHOPE International, a Christian faith-based non-profit organization, has been operating in Ukraine since 1997. HOPE Ukraine was the organization’s first international venture. In addition to its core microfinance activities, HOPE also supports an active children's ministry in Ukraine in the form of “Tomorrow Clubs,” after-school programs that teach children the gospel through games, skits and songs.
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.
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Success!! The loan was 100% repaid