Update on LawrenceLawrence is a thirty-two-year-old married man with personal goals of educating his children and building a permanent house. He used his previous loan to buy phone accessories, and after just four years in business, he has been able to educate his children and expand the business. Lawrence's business challenges are price fluctuations and delayed payments from some customers, however, he has a vision of diversifying his business to include farming and setting up a new outlet. Lawrence needs this loan to buy more phone accessories to sell.
Previous Loan DetailsLawrence is a thirty-one-year-old married man with three children living in Fort Portal Uganda with an ambition of educating his children up to university. He has been dealing in phone accessories for three years and the business is still booming. He has challenges of limited capital to meet the… More from Lawrence'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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