Update on BesnikBesnik is very thankful to the Kiva lenders for the loan he was given, which helped him to increase his profit in his construction business. He used the loan to purchase ceramics and other materials used for decoration and for enhancing the environment of various establishments. Because he had more to offer his customers, he was able to increase his income and production.
This has had a positive effect on his family life, as he was able to improve their living conditions. Now he is requesting a second loan to buy more materials for his work. Since it is the summer and the weather is usually favorable for construction, the amount of business increases from customers. This loan will help him to satisfy his customers and thereby increase the income.
He hopes that in the future, he will be able to expand his business even more and eventually even hire an employee to assist him. He appreciates all of the lenders for their support, which helps him reach and attain his goals.
Previous Loan DetailsBesnik, who lives in Kosovo, is married and has a four-year-old child. Friendly and very hardworking, Besnik has worked in construction installing ceramics for more than ten years. He gained experience in Switzerland where he lived there for many years, and business is brisk. He begins his workd... More from Besnik's previous loan »
About KosInvestKosInvest is a micro-enterprise development organization that provides loans to help people in rural Kosovo generate more income and improve their living conditions. It offers a wide range of loan products, from loans tailored to micro and small enterprises to loans designed to help women-headed households.
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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- Repayment Term
- 30 months (Additional Information)
- Repayment Schedule
- Jun 15, 2013
- Jun 27, 2013
- Currency Exchange Loss:
- Jul 27, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.