Update on JosephJoseph is a 22-year-old gentleman living in Kagadi, Uganda. He started in agriculture, then got the capital to start a retail business. He now has a retail shop that he has run for 2 years. He used his previous loan to buy sugar and salt for resale. He says inadequate capital is affecting the business.
Joseph's dreams are to build a permanent home, expand his business to new markets, and diversify into buying produce since there is a ready market. He intends to use the new loan to buy maize and beans for resale.
Previous Loan DetailsJoseph is a 22 year old gentleman living in Kagadi,Uganda. He has a retail shop which he has run for a period of 1 year. He started in agriculture and then got capital and started a retail business. He says inadequate capital is affecting the business. Joseph would like to build a permanent home ... More from Joseph's previous loan »
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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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