Update on EddyEddy runs a warung, a small shop in Indonesian, selling snacks, drinks and other small items in Bogor. Bogor is about two hours away from Jakarta. Eddy’s shop is not just a typical warung because Eddy is also a part of the Ruma Network, where he sells mobile phone airtime credit and processes bill payments for customers. Eddy is excited to be a part of this network because he hopes that these services will bring more customers to the shop and increase his income.
Eddy lives with his wife and four children. Since joining Ruma, Eddy is earning on average $50/per day in mobile airtime credit sales. With support and assistance from Ruma staff, he hopes to grow his business even more.
Eddy is now offering to process electricity bill payments for customers as a new service. To do this, he is required to print receipts for these transactions. He is requesting a Kiva loan to help him to purchase this printer so he can offer this new service.
Previous Loan DetailsEddy runs a small stall where he sells snacks, drinks, cell phone accessories and mobile phone airtime credits. He is an entrepreneur with four persons living in his house. He joined Ruma with only $10 capital to do transactions about 10 months ago and still feels really excited to expand his bus... More from Eddy's previous loan »
More information about this loan
Working capital loans enable credit-worthy borrowers to reach their full sales potential. Every agent maintains a balance of electronic credit with Ruma to process transactions. But if this balance is zero and no Ruma field officers are available to replenish it, an agent may miss out on sales. Working capital loans solve this problem by serving as a line of credit that agents can repay as needed during the loan term, ensuring that they don't lose potential income. PT Ruma will progressively disburse the amount posted on Kiva based on the agent's working capital needs, ensuring that no potential income is lost. By funding this loan, you are empowering urban and rural entrepreneurs.
About PT RumaPT Ruma's core business is not microfinance. Accordingly, there is some additional risk for lenders as this Field Partner expands its business model to include lending. Because PT Ruma’s business model differs from standard microfinance models, it is not assigned a risk rating on Kiva. Key risks and further information about making loans to borrowers through PT Ruma can be found on the organization’s partner page.
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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This loan has been fully funded!