Update on IraIra lives in Bogor, a suburban area located about an hour from Jakarta. Ira is a factory worker who runs a small stall that sells mobile phone airtime credits and services bill payments for the customers. She joined Ruma because she's interested in expanding her business. Previously, she took a working capital loan from Kiva and she has already paid it back on time.
Now, Ira is requesting another loan from Kiva because she sees sales opportunities on weekends as more customers come to her small shop to buy mobile phone airtime credits. Over the last months, she has been able to process around 8-9% higher sales volume on weekends than on weekdays. Ira hopes that she can improve the small stall that she runs and put aside the extra cash for her family's savings. She thanks you for your support.
Previous Loan DetailsIra runs small stall that sells mobile phone airtime credits. Recently, she worked as a fabric laborer and has three persons living in her house. She joined Ruma six months ago and still feels really excited to expand her business of selling mobile phone airtime credits and facilitating bill ... More from Ira's previous loan »
More information about this loan
Working capital loans enable credit-worthy borrowers to reach their full sales potential. Every agent maintains a balance of electronic credit with Ruma to process transactions. But if this balance is zero and no Ruma field officers are available to replenish it, an agent may miss out on sales. Working capital loans solve this problem by serving as a line of credit that agents can repay as needed during the loan term, ensuring that they don't lose potential income. PT Ruma will progressively disburse the amount posted on Kiva based on the agent's working capital needs, ensuring that no potential income is lost. By funding this loan, you are empowering urban and rural entrepreneurs.
About PT RumaPT Ruma's core business is not microfinance. Accordingly, there is some additional risk for lenders as this Field Partner expands its business model to include lending. Because PT Ruma’s business model differs from standard microfinance models, it is not assigned a risk rating on Kiva. Key risks and further information about making loans to borrowers through PT Ruma can be found on the organization’s partner page.
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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Success!! The loan was 100% repaid
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- At end of term
- Jan 6, 2014
- Jan 6, 2014
- Currency Exchange Loss:
- Aug 17, 2014
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.