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Ahmad

Update on Ahmad

Ahmad will use this loan to purchase a new boat engine for 6,000,000 IDR and eight fishing nets, each for 500,000 IDR. He needs a bigger boat engine to go further into the sea to catch more fish. Ahmad goes to the sea everyday, and he catches a lot of fish. The price for 1 kg of fish is 10,000 to 12,000 IDR, depending on the type of fish.

Ahmad hopes, with the new boat engine and new fishing net, that he can catch more fish and earn more money so he can make his dream come true: to buy a new boat.

Previous Loan Details

Ahmad, lives at Batu Ampar-Singaraja, North of Bali. He has one 3-year-old son and his wife is a housewife. Ahmad works as a fisherman. He goes to the sea three times a week. To support his business, he rents a boat. Ahmad has a dream to have a boat of his own. To make it come true, he is tak... More from Ahmad's previous loan »

Additional Information

More information about this loan

This loan is part of MUK’s effort to reach small business owners in rural areas of Bali in Indonesia. Borrowers often lack collateral to be eligible for working capital loans and are located in areas where access to microfinance is limited. MUK organizes borrowers into groups that cross guarantee one another, allowing them to qualify for a loan. By funding this loan you are providing underserved borrowers with crucial capital to sustain their existing businesses.

About Koperasi Mitra Usaha Kecil (MUK)

This loan is serviced by Koperasi Mitra Usaha Kecil (MUK), a microfinance cooperative headquartered in West Bali, Indonesia. MUK’s mission is to provide chronically poor people in Bali with opportunities to improve their lives, while raising social awareness of economic and environmental issues.
Most MUK clients live in rural settings on less than $1.25 per day. MUK’s financial products are targeted to clients’ productive activities including small businesses, farming, and livestock rearing. MUK supports clients with training in household budgeting, livestock rearing, and small business management.
MUK provides services to clients of all races and religions. For more information about MUK, please visit its partner page. Also, consider joining MUK’s Kiva lending team, Friends of Mitra Usaha Kecil.

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.

About Indonesia

  • $4,458
    Average annual income
  • 66
    View loans »
    Indonesia Loans Fundraising
  • $4,806,575
    Funds lent in using Kiva
  • 9,710.0
    Indonesia Rupiahs (IDR) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,050 helped Ahmad to purchase a new boat engine and nets.
94% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 20, 2013
Listed
Mar 25, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013