Update on UnitaLast fall, Unita’s story was shared with the Kiva community, and thanks to you, Unita received a $5,000 Kiva loan to pursue her business dreams and open up her own day spa. Six months after her loan funded on Kiva, her business has expanded drastically. Her Kiva loan helped her to market her business and reach hundreds of customers with an online deal. Unita is without a doubt a Kiva success story.
Both financially savvy and proactive, Unita has come back to refinance her loan. Today a loan of $8,000 will be used to completely repay her previous Kiva loan and enable Unita to purchase more equipment and acquire a larger space. With this new space, Unita will be able to expand her business to accommodate her growing number of clients. With more rooms and massage tables, Unita will also be able to hire a team of massage therapists.
Unita’s aspiration to become an entrepreneur started at a young age. “I had no footprints to follow,” Unita shared as she reflected on her childhood. “Many people around me lacked the motivation to boost their own economic situation, choosing not to further their education nor pursue avenues of self improvement.”
After receiving a very memorable massage, Unita was inspired to become a massage therapist and she committed to giving, receiving and studying massage therapy. Earning her certificate and license, she started working for local spas eventually gaining enough experience to start her own business.
Previous Loan DetailsFrom a young age, Unita knew she wanted to take a different path. “I had no footprints to follow,” Unita shared as she reflected on her childhood. “Many people around me lacked the motivation to boost their own economic situation, choosing not to further their education nor pursue avenues of self… More from Unita'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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