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Dharmradj

Update on Dharmradj

Dharmradj is very thankful to Kiva lenders for helping him with his rice cultivation.

He has repaid his loan fully and on time to Kiva lenders. With the profits that resulted from this loan, Dharmradj hoped he could save enough money for his new tractor. However, he was not able to save enough money!

Dharmradj would like additional help from Kiva lenders and Seva MFI so he can save enough to buy a tractor. He requests another loan of SRD 10,000 to purchase fertilizers and pesticides for his rice production business.

Previous Loan Details

Dharmradj is 38 years old and has a family with two young children. He plants crops in his own land and has an old tractor. Rice cultivation is the only source of income for the family. In 2011, he received his first loan from Seva MFI. Since then, he has received five more loans and he has repaid… More from Dharmradj'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
  • 1
    View loans »
    Suriname Loans Fundraising
  • $523,425
    Funds lent in using Kiva
  • 3.3
    Suriname Dollars (SRD) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,075 helped Dharmradj to purchase fertilizers and pesticides so he can expand his rice production business.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
May 24, 2014
Listed
May 30, 2014
Currency Exchange Loss:
Possible
Ended:
Nov 22, 2014
This photo was used before for a previous loan for Dharmradj. It was first posted on Kiva on Oct, 2013. Learn More