Update on TonnyTonny, who lives in Mombasa, Kenya, is 31 years old, married and blessed with two children aged eight and six, both of whom attend school. Tonny runs a retail shop in Jomvu area that is doing fine, and he sees himself owning a wholesale business in the next five years. His enterprise has been in operation for more than ten years, and his challenges are high transportation costs and the high cost of goods.
Tonny learnt of Milango through an employee who invited him to join. He now seeks a loan to buy retail stock like sugar, salt and flour. The extra income that he will raise from the business will help improve their living standards.
Previous Loan DetailsTonny lives in the Mombasa area of Coast Province, Kenya. He is married and has two children. He owns a retail shop, a business which has been running for ten years. In this business, he sells retail stock, e.g., rice, sugar, flour, and cooking oil. He learnt about Milango through friends who… More from Tonny'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.