Update on MartinMartin was able to buy clothes to resell during the previous cycle. He is grateful to the lenders for his loan through Ugafode. It is now approaching Christmas, and people are buying clothes for the festive season. He has therefore taken a loan of 1,500,000 UGX to buy more inventory before the prices go up. He will sell the inventory to his customers who are preparing for festivities and parties. He is confident he will make a big profit. He thanks Ugafode for the trust they have developed in him by giving him more. He is hard-working and honest.
Previous Loan DetailsMartin is a 29-year-old married man with two children who are six and four years old. One of the children goes to school. Martin has been in the business of selling used clothes since 2006 and works six days a week by moving from market to market on different designated days. He supplements his ... More from Martin'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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Success!! The loan was 100% repaid
- Repayment Term
- 12 months (Additional Information)
- Repayment Schedule
- Nov 19, 2012
- Nov 30, 2012
- Currency Exchange Loss:
- Aug 17, 2013
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.