Update on OlimjonOlimjon is a businessman who requests his second loan. He took his first loan to increase his assortment of women's dresses. Today his business is advancing successfully. He already sells not only women's dresses, blouses and sweaters, but also men's clothing.
Currently Olimjon requests a loan to develop his business. He would like to purchase a collection of fall clothing for women and men to sell. His wife diligently helps him manage the business.
Previous Loan DetailsOlimjon is a resident of the Dangara region. He is 51 years old and for three years he has been engaged in trade at the market. Primarily, he sells traditional dresses. Olimjon is married and has four children. He is taking out a loan to increase his assortment of merchandise. More from Olimjon's previous loan »
About MLO Humo and PartnersMLO Humo and Partners is a microfinance institution in Tajikistan that aims to support vulnerable and underserved populations living in rural areas through financial and consulting services for small businesses. Kiva loans are used by groups and individual borrowers to start and grow businesses and build brighter futures for themselves, their families and their communities. This is especially important in Tajikistan, the poorest country in Central Asia, where more than two-thirds of the population lives below the poverty line.
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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