Update on AbduazizAbduaziz came to MDO Arvand to bring in autumn merchandise. He repaid his previous loan early and decided to obtain another loan. He sells men's and children's shoes at a market. The rainy and cold season is starting soon, and sales will go well. This is why Abduaziz decided to bring in merchandise now. His wife supports him in the business and sits behind the counter and sells when he travels for merchandise. His children are still small - the oldest is 12 and the youngest is 5 years old. He is saving money for his children's future. The oldest son dreams of getting accepted to a prestigious university and becoming a doctor. This is why Abduaziz wants to obtain a loan to improve his selection and bring in autumn merchandise, and, thus, increase his capital and income.
Previous Loan DetailsAbduaziz is married and has three children. He has been working with our organization since 2008. He obtains loans for business expansion. Abduaziz's wife helps him with the business and sits behind the counter, when he leaves to acquire merchandise. He has been involved in retail sales for a... More from Abduaziz'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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