Update on I PutuI Putu lives with his wife and two school-age children who are still in junior high school and elementary school. To fulfill his family needs, he works as a farmer but he has no land to plant. So, with his skill and experience, he works on other people's land and gets paid for his services. I Putu's services satisfy his customers and, as a result, he has many customers. With the last loan, he was successful in managing the work and this brought a satisfactory result for him and for the owner of the land.
Now with the rainy season coming, I Putu has decided to borrow a new loan after he repaid all of his last loan. Still with his plans, he will use the loan to hire tractors, buy seed and fertilizer, and pay for labor. I Putu provides a quarantee for his services to the customers and he hopes the weather will support him. He has a dream to buy a plot of land from his profit and to save for his children's education.
Previous Loan DetailsI Putu, working as a farmer, specializes in rice fields. This work is practiced as the area supports, with enough water, throughout the year and over a large area. Due to weak economic conditions, I Putu has no paddy fields. He serves the rice processing property of others and will be paid after… More from I Putu'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
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- At end of term
- Jun 6, 2014
- Jun 20, 2014
- Currency Exchange Loss:
- Jan 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.