Update on MuuryaMuurya, a businessman in Mombasa, has seen much growth in his business. He is grateful for the link with Milango through the group members who gave him an opportunity to expand his business by accessing loans and increasing his income. Muuryra is applying for a loan of 104,800 Kenya shillings to purchase additional stock of ladies' accessories like clips, braids, makeup, etc. and targets the customers visiting the town over the festive season. He believes he can repeat and surpass the performance of last year.
Previous Loan DetailsMuurya lives in Mombasa, Kenya. He is single and is a hawker; a business he has run for the last five years. He learned of Milango from his friends and joined in order to access credit. Muurya is applying for a loan of Ksh 80,000 to purchase hair clips, braids, make up kits and other ladies’ acce... More from Muurya's previous loan »
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
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Oct 24, 2012
- Nov 23, 2012
- Currency Exchange Loss:
- Jan 21, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.