Update on I NengahI Nengah is very happy that his strategy to increase sales at his kiosk and boost his income has been very successful. His income is now sufficient to support his family. He was also able to pay off his prior loan through MUK quickly. He would like to thank all lenders for their support.
I Nengah now has a plan to buy souvenirs to sell to passengers who travel to Bali as well as additional merchandise for his kiosk. He is applying for a 7,000 IDR loan to buy these souvenirs and merchandise. All of his profits will go toward enlarging his business.
Previous Loan DetailsI Nengah lives in Gilimanuk, West Bali, close to the port. He lives with his wife. I Nengah has a kiosk located within the port location and a transportation business. He has a bus. With his wife, he manages a kiosk selling various types of food to passengers of ships. To improve his business,… More from I Nengah's previous loan »
About Koperasi Mitra Usaha Kecil (MUK)This loan is serviced by Koperasi Mitra Usaha Kecil (MUK), a microfinance cooperative headquartered in West Bali, Indonesia. MUK’s mission is to provide chronically poor people in Bali with opportunities to improve their lives, while raising social awareness of economic and environmental issues.
Most MUK clients live in rural settings on less than $1.25 per day. MUK’s financial products are targeted to clients’ productive activities including small businesses, farming, and livestock rearing. MUK supports clients with training in household budgeting, livestock rearing, and small business management.
MUK provides services to clients of all races and religions. For more information about MUK, please visit its partner page. Also, consider joining MUK’s Kiva lending team, Friends of Mitra Usaha Kecil.
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