Happy Friends Development Group
Update on Happy Friends Development GroupUsing the previous loan, Charles was able to raise his income since his harvest increased as a result of a bigger cultivated field and the ability to hire more labor. He has used some of the money from the harvest sales to rent a stall where he stocks his goods when he brings them to the city to sell.
Juliana, another member of the group, is a 34-year-old single mother who is hardworking and creative. She was divorced by her husband who left her for another woman. Juliana then resorted to selling charcoal to get some money to look after her children and dependents. She now wants a loan to buy wood, which she will sell in order to get school fees for her five children (a sixth child will start school next year). Juliana is challenged by stiff competition, weather changes and the tough economic times, especially now when she is the sole breadwinner for a large family. Her dream is to build a house that she and the children will call theirs.
The 10th person in the picture seated at the extreme right is the UGAFODE staff.
Previous Loan DetailsCharles, a member of the group, is predominantly an agriculturalist who does retail farming in the Wakiso district. He is married with five children. He decided to go into farming because there is market from the town dwellers who depend on market food. He also had no formal education to help… More from Happy Friends Development 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