Update on MatayoMatayo used the previous loan to buy cocoa to sell and reaped tangible profits which he used to pay the loan and reinvest in the business. He is a 33-year-old married man with three children living in Bundibugyo, Uganda. He deals in the cocoa business, which he has been doing for five years.
The crop attracts high demand from both local and foreign consumers. Matayo is requesting another loan to buy cocoa to sell. He faces a challenge of the seasonal nature of the business, which hinders his development plan. His strategy is to diversify his business because dealing in a variety of crops would allow Matayo to spread his risks.
Previous Loan DetailsMatayo is 33 years old, married, and has three children. He lives in Bundibugyo, Uganda. He deals in the cocoa business, which he has been doing for five years. The crop attracts high demand from both local and foreign consumers. Matayo is requesting a loan, which he will use to buy cocoa to... More from Matayo'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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