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Benson

Update on Benson

Benson, age 28, runs a produce business and a motorcycle transport business in Kagadi. He has been engaged in these ventures for the past four years. He started his business with capital received from harvesting and selling his maize and beans. In order to shorten the supply chain, he then decided to buy from other farmers and sell at a profit. He used his previous loan to buy maize and beans to offer for sale.

Inadequate capital is the factor affecting his business. His dreams are to ensure the education of his two children and to own one of the biggest food stores in town.

Benson intends to use this loan to buy maize and beans to offer for sale.

Previous Loan Details

Benson is a 28 year-old hardworking man living in Kagadi, Uganda. For four years he has been running a produce business and also riding a motorcyle for business purposes. He started this business with capital received from harvesting and selling his maize and beans. In order to shorten the supply… More from Benson's previous loan »

Additional Information

More information about this loan

This loan is part of HOFOKAM's program targeting poor and geographically excluded populations in Western Uganda. In addition to loans, it provides social and business training programs to low-income entrepreneurs and their communities. Since 2003, HOFOKAM has provided sustainable financial and non-financial services to promote social, economic and sustainable land development and improve the quality of life for vulnerable populations. The organization has a clear vested interest in underserved communities with its headquarters in rural Fort Portal and a number of branches in extremely remote areas.
 

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.

About Uganda

  • $1,500
    Average annual income
  • 173
    View loans »
    Uganda Loans Fundraising
  • $28,315,525
    Funds lent in using Kiva
  • 2,587.5
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Benson to buy maize and beans to offer for sale.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 8, 2012
Listed
Nov 11, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013