Update on CharlesCharles has just completed early repayment of his previous loan of 1,000,000 shillings which he used to purchase goats that he raised and later sold at a good price. He started his livestock business in 2002 and has earned a lot from it, thereby enabling him to look after his family with the basic necessities and to pay school fees for their three children in good schools.
With this loan of 1,500,000 shillings, Charles will buy land for his enterprise and construct a shade (kraal) for his goats to protect them against bad weather and infections. His dream is to be the leading producer of quality goats in the region. His challenge is inadequate land for goat-rearing and infections that attack his goats, causing diseases that reduce his productivity. If he buys some land this time, he will slowly overcome the challenge of insufficient acreage.
Previous Loan DetailsCharles has been a client at Ugafode MFI Ltd for 3 loan cycles now. He deals in the goat trade as a source of income and has been engaged in that business for the last 6 years. He normally sells the goats in the daily and weekly markets around Ibanda. Charles obtained his first loan and bought... More from Charles's previous loan »
More information about this loan
This loan is part of UGAFODE's green loan program, giving Ugandan farmers the support they need to grow and process organic fruits and vegetables. Funds will be used to obtain critical resources like processing equipment, mulch and organic seedlings to reduce waste water contamination and improve consumer health. The green loan program also helps clients combat regional problems like deforestation and over-fishing.
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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Success!! The loan was 100% repaid
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Oct 20, 2012
- Nov 18, 2012
- Currency Exchange Loss:
- Jul 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.