Previous Loan Details

Annie is 50 years old. She is married with six children who depend on her. Her husband works as a welder. Annie runs a second-hand clothing business. She is requesting this loan to buy more bales of second-hand clothes to expand her business. She has a family member and an employee who help her … More from Mgwirizano Wa Amayi Group’s previous loan »

Additional Information

More information about this loan

This loan is part of Microloan Malawi’s efforts to provide very poor women, mostly below the poverty line of $1.25 per day, startup capital for small businesses. The organization uses a data system to target women that qualify for this program, and provide loans beginning as low as $20 per borrower depending on the proposed economic activity. Extensive training on business and financial skills, as well as marketing and group dynamics, is also provided given that these women are often first time borrowers in the formal financial market.
 

About MicroLoan Foundation Malawi:

MicroLoan Foundation Malawi is a non-profit organization that provides impoverished women living in the rural areas of Malawi with agricultural, solar, and business starter loans.

The organization targets underserved women and is dedicated to poverty alleviation. Loans issued through Kiva will allow MLF-Malawi to diversify funding sources, maintain socially impactful programs like skills trainings, and offer loans with lower interest rates.

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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva’s Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower’s loan. The other members of the group are not required to use their loans for the same purpose.