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Dharmen

Update on Dharmen

Dharmen is very thankful to Kiva lenders for helping him realize his dream of saving for his own rice plot. He has repaid his loan fully, and with the help of Kiva lenders, he saved some money. But, that is not enough to buy a new rice plot. That’s why he needs another loan of 9,900 Surinamese dollars to purchase fertilizers and pesticides for the next season: so he can save more.

Previous Loan Details

Dharmen is 24 years old. He has a family with one child and lives in his parent’s house. Dharmen is a rice grower. He inherited a second hand tractor from his father. In 2012, he qualified for a microloan to expand his rice cultivation, which he does on rental plots. He has repaid this loan f... More from Dharmen's previous loan »

Additional Information

More information about this loan


This loan is part of Seva's effort to reach marginalized rice farmers who are excluded from Suriname's traditional banking system. This type of loan is designed to help agricultural entrepreneurs become self sustainable. This is especially important in Suriname, where microfinance is limited. These loans provide farmers with the opportunity to thrive in a country where rural and agricultural businesses are considered to be too risky for commercial loans.

About Seva Network Foundation

Stichting Seva Micro Finance Institute (Seva MFI) is an international organization that promotes entrepreneurship among poor and marginalized communities in developing countries. Seva MFI offers loans that enable farmers to purchase pesticides, fertilizer, farming tools and equipment to expand their farm plots and boost their incomes. In 2012, Seva MFI has disbursed over 650 loans to farmers in Suriname.

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.

Tags

About Suriname

  • $7,640
    Average annual income
  • 2
    View loans »
    Suriname Loans Fundraising
  • $571,075
    Funds lent in using Kiva
  • 3.2
    Suriname Dollars (SRD) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,075 helped Dharmen to purchase fertilizers and pesticides.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
At end of term
Disbursed:
May 24, 2014
Listed
Apr 20, 2014
Currency Exchange Loss:
Possible
Ended:
Oct 31, 2014
This photo was used before for a previous loan for Dharmen. It was first posted on Kiva on Oct, 2013. Learn More