Update on MargaretMargaret lives in Malindi, Kenya. She owns a salon and a barber shop, where she has employed three people. This has been her business since 2007. She is a single mother of one school-going child. She heard of Milango through a group of women she met in her salon. She is employed and earns an extra income.
Margaret seeks a loan to help her pay school fees for her child. She has a vision of owning a big salon in the next five years and even quitting her employment.
Previous Loan DetailsMargaret repaid her previous loan well and is grateful for the progress her business has witnessed. She is applying for a second loan of 41,850 KES to increase the stock of cosmetics for her business. More from Margaret'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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