Update on JosephJoseph lives in Mombasa, Kenya; he is 28 years old, married, and blessed with one child.
He is happy that he got his first Kiva loan, which he was able to pay back without challenges.
Joseph is seeking another loan to add more float in to his account (this is stored value credit for sale in mobile money services), so that he can serve more customers. He has been in this business for than three years, and the major problem he faces is the high costs of transport and delays when the system fails.
The income that is raised from the business will help him improve his living standards.
Previous Loan DetailsJoseph is a resident of Mombasa, Kenya. He is a married business man and runs a mobile money trasfer shop, which has been in operation for three years. He was introduced to Milango by his friends and is asking for a loan of 41,900 Kenya shillings to increase the float for the till. Despite the… More from Joseph'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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- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Jul 17, 2013
- Aug 15, 2013
- Currency Exchange Loss:
- Sep 14, 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.