Update on PascalPascal is a fifty-five-year-old married man with three children living in Kasese, Uganda with a personal goal of educating his children up to the university level. He has been dealing in the scrap metal business for the last six years after starting with capital of twenty thousand shillings, and now the business capital has grown to over two million.
Pascal's major hardship is inadequate capital to purchase stock, however, he has a vision of expanding his business into new areas. Pascal needs a loan to pay school fees for his children.
Previous Loan DetailsPascal is a fifty-four year-old married man with three children. He rents a house in Kasese, Uganda. He has been dealing in scrap metal for five years, during which time he got his initial capital from selling some of his household belongings. From this business, he has been able to build a… More from Pascal's previous loan »
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
- 10 months (Additional Information)
- Repayment Schedule
- Feb 8, 2012
- Mar 8, 2012
- Currency Exchange Loss:
- Dec 16, 2012
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.