Update on MaryMary's business has continued to witness growth. She was able to complete the repayment of her previous loan on time and is applying for a new loan of 99,600 Kenyan shillings to build a business structure of her own. She no longer wants to continue renting her business premises. She believes the savings from the rental payments and the income from the same business which she has run for some time will help in her loan repayment. Her ambition is to steer the business toward becoming a wholesale shop.
Previous Loan DetailsMary is a resident of Mariakani, Kenya. She has one child. Mary owns a retail shop, which she has run for the last ten years. In addition to this business, Mary also owns a bar. She started the two business investments from her personal savings. Mary was introduced to Kiva partner Milango by her… More from Mary'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
- Nov 28, 2012
- Dec 6, 2012
- Currency Exchange Loss:
- Oct 18, 2013
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.