Update on MargretMargret thanks the Kiva lenders for the loan granted to her previously. She was able to expand her business so as to increase her income and so that she can provide for her children adequately.
Margret‘s challenge is still lack of enough stock in her shop, which takes away her customers because sometimes they ask for products she does not have in stock. Then, she loses customers to her immediate competitors. It’s against this background that she previously wanted funding to boost up her business and retain her customers. Margret is slowly overcoming this challenge because she is now able to provide most of the products demanded. She thinks with more loans the challenge will soon be history. She is hard working and ambitious.
Previous Loan DetailsMargret is a 45-year-old single mother of two chdilren, both of whom attend school. She also takes care of one orphan boy: he lives with Margret, and she pays his school fees and feeds him on the little income she generates from her retail shop. Margret started her shop two years ago as a sour... More from Margret'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
- Feb 13, 2014
- Feb 17, 2014
- Currency Exchange Loss:
- Aug 17, 2015
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.