Update on HurshedHaving successfully paid back his previous loan, Hurshed has decided to apply for a second loan, as the prior one allowed him to substantially expand his business of raising cattle. His wife and mother-in-law take care of the cows, and every morning they milk them and produce dairy products such as sour cream, ryazhenka (a type of yogurt drink), and cottage cheese, which they then sell at the market. This year Hurshed wants to build another cowshed for his cows because with each passing year, his herd gets larger and his current cowshed is not large enough to accommodate any future expansion. This business is bringing in a very good income for him. Hurshed wants to use this loan to buy building materials so he can build a new cowshed. He is very happy that he can receive the support of Kiva to realise his plans.
На полученный кредит Хуршид хочет купить строительные материалы и построить новый коровник. Он очень рад, что может получить поддержку от КИВА и реализовать свои планы.
Previous Loan DetailsHurshed was born 1981. He is married and has two children. Previously, he used to go to the Russian Federation and work there, but due to unknown circumstances, he was no longer able to work there. At home, his family kept livestock and grew various agricultural crops from spring to autumn. He… More from Hurshed'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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