Update on IsmetIsmet really appreciates the help he received from his previous loan, which enabled him to purchase machines to make donair kebabs and pizza, as well as a freezer for his small restaurant. It was because of this loan that he was able to improve his business and profit, thereby improving the living conditions of his family. Since he credits the loan and lenders with this improvement and was very satisfied with his experience, Ismet would like to apply for a second loan for his same business.
This time Ismet would like to renovate the restaurant, painting and replacing the flooring as well as purchasing new tables and chairs. He thinks that this second loan will also have a positive impact on his business and attract more clients. He is very pleased to have this opportunity to again improve his enterprise, and emphasizes that without the previous loan he would never have been able to make the improvements he did. It is so important to Ismet to be able to continue to grow and be successful, as he wants to save money and give his children a better education.
Previous Loan DetailsIsmet is a married 38-year-old father of three children. The oldest is 11 and youngest 6 years old. Ismet is a hard worker and very ambitious person who works a lot to earn a living. More than a year ago he opened a small restaurant for making kebabs in his area. He usually works from 8:00am unt... More from Ismet'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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This loan has been fully funded!
- Repayment Term
- 30 months (Additional Information)
- Repayment Schedule
- Jan 21, 2014
- Jan 22, 2014
- Currency Exchange Loss:
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.