Harmoni Indah 3 Group
Update on Harmoni Indah 3 GroupThis is a reloan for Harmoni Indah 3 group. This group has three new members, and one of the old members left the group. With the previous loan, Siti was able to make a small renovation to her store and sell more things. Now she plans to use her part of the loan to buy materials to continue repairing her store and also add more stuff to sell in her store. She hopes her business can continuously succeed and she can be an agent to resell to smaller sellers.
Other group members plan to use their part of loan to help their businesses selling bags, noodles and "nasi uduk" (Indonesian rice with coconut flavor).
Previous Loan DetailsSiti is married with four children. All of her children are already married. She opened a general store in front of her house and she has been doing this for two years. Her business is doing well but she wants to take a loan to pay for materials to repair store. In the future, she wants to expand... More from Harmoni Indah 3 Group's previous loan »
About VisionFund IndonesiaVisionFund Indonesia is a Christian micro venture capital organization owned by Mitra Masyarakat Sejahtera (MMS) and Wahana Visi Indonesia. Founded in 2000, VFI operates in both Jakarta and Surabaya, the two biggest cities in Indonesia. VFI targets the entrepreneurial poor who have existing microbusinesses for at least 6 months and have no financial access to commercial banks. VFI also provides microinsurance for all clients through a partnership with Allianz insurance company. With nine branches as of 2011, VFI hopes to expand in order to reach underserved microfinance markets in other islands of Indonesia.
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
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