Runyenge Gamba Nokora Group
Update on Runyenge Gamba Nokora GroupGodfrey is a 26-year-old active business farmer. He is married with two children living in Kyenjojo, Uganda. He trades in produce to get income to enable him to earn a living for his family. Godfrey started this business immediately after dropping out of school as a result of school-fees failure by his parents. He buys produce from rural areas and sells to town dwellers.
Godfrey has the challenge of a small capital base as well price fluctuations and inflation, which leads to higher prices and hence, lower profits.
He has a personal goal of building a permanent home for a residence and owning a food store that can sustainably supply his customers all year round.
Godfrey intends to use the loan to buy maize and beans to sell. Some of the members in the group graduated to individual lending after accumulating enough capital, and this is the reason why there are fewer members than the previous loan cycle.
Previous Loan DetailsCrizensio is a Ugandan male aged 46 years who needs a loan to buy beans for planting. He hails from Kyenjojo district. He is a father of four children between 8 and 18 years old. He dreams of educating his children and becoming a large-scale farmer. He has been in the agricultural sector for 20… More from Runyenge Gamba Nokora Group'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.
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.
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Success!! The loan was 100% repaid