Update on MonicaMonica's business has gained great momentum. She has been able to pay for the previous loans well, besides meeting her family’s needs. There is also a great demand for food stock in the area. She would like to set up a new stall for business.
Monica is applying for a loan of 83,450 Kenya shillings to construct a new stall and buy a stock of fruits and vegetables for sale. She will use the extra income to construct a house.
Previous Loan DetailsMonica lives in the Mariakani area of Coast province, Kenya. She is a single business lady and owns a green grocery stall, which she has been operating for over seven years. In this business, Monica sells greens, fruits, vegetables, etc. Monica set up the business from the income she obtained from… More from Monica'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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