Update on NaimchonNaimchon is a young and energetic man. He recently paid off his previous loan and now wants to get another.
With the previous loan, he repaired the roof of his house which was in very poor condition. With the loan now, he wants to buy carpeting and a television. His old television is not repairable.
He is very happy that he can carry out his plans. Our organization gives thanks in advance for the financial support.
Previous Loan DetailsNaimchon is a 27 year-old young man, not yet married and is the only son in his family. He lives with his parents. Naimchon works at the city sauna and has enough income for living, but is unable to save for big family expenses. This is why he decided to obtain a loan to repair his house that… More from Naimchon's previous loan »
About MDO ArvandMDO Arvand is one of the leading microfinance institutions in Tajikistan, offering small loans to entrepreneurs to start and grow their businesses. This makes an enormous difference in a country, which is not only the poorest in Central Asia, but also home to a population where two-thirds live below the poverty line. Today, Tajikistan's economy literally depends on remittances being sent from family members working abroad in Russia because there are so few local job opportunities.
But Arvand loans have been able to make a difference and change lives. Read about some of the incredible success stories they have seen here in this Kiva blog post: Bringing hope to Tajikistan with Arvand -- one success story at a time.
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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