Update on MwakaMwaka closed the year on a high note, in her business. She sold a high volume of fish and was well able to repay her loan. The income she earned with that loan helped provide for the family's needs.
Currently, her main challenges are the high cost of transportation and the perishable nature of her goods, because she buys fish from upcountry. These challenges have forced her to deal primarily in dried fish.
Mwaka is now applying for a loan of 41,850 Kenya shillings, to purchase additional stock of fish for sale. The extra income from the business will enable her to educate her children.
Previous Loan DetailsMwaka is a resident of Mariakani, Kenya. She is a widow and has six children, five of whom are in school. Mwaka is a fishmonger, a business she has run for 15 years. She also sells coconuts and other vegetables when in season. Mwaka started the business from $35 and has seen it grow to a capital ... More from Mwaka'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
- Dec 26, 2012
- Jan 18, 2013
- Currency Exchange Loss:
- Jan 17, 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.