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Ravi

Update on Ravi

Ravi thanks the Kiva lenders for helping him expand his rice production. With the profits he was able to pay the tuition for his children and could even renovate his house.

He has a tractor and needs to buy 4 new tires. With the tractor he can work in his fields and also in other farmers' fields. This can give him extra income for his family.

Previous Loan Details

Ravi is 43 years old and has a family that includes three school-aged children. He does rice cultivation while his wife has a small shop outside his house where she sells food and beverages. Ravi has been a client of Seva MFI since 2008 and has already received nine small loans. He repaid thos... More from Ravi'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
  • 3
    View loans »
    Suriname Loans Fundraising
  • $601,475
    Funds lent in using Kiva
  • 3.2
    Suriname Dollars (SRD) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $3,100 helped Ravi to buy tires for his tractor.
50% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Irregularly
Disbursed:
May 24, 2014
Listed
Apr 20, 2014
Currency Exchange Loss:
Possible
This photo was used before for a previous loan for Ravi. It was first posted on Kiva on Oct, 2013. Learn More