Update on Kirangara GroupRichard used the previous loan to buy land and tomatoes to sell. He is a 24-year-old hard-working man living in Fort Portal, Uganda. He lives in his own home in Fort Portal. He grows tomatoes to earn a living. With the credit facilities, he has been able to pay school fees for his children. He is a member of the above mentioned group, and his desire is to own at least ten acres of tomato gardens in the next two years. Richard intends to use the loan to buy tomato seedlings for planting.
Previous Loan DetailsRobert is single, 24 years old and hardworking. He lives in his own home in Fort Portal, Uganda. He has the zeal to work hard and save enough money. He has been growing tomatoes and preparing nursery beds for sale. He is a member of Kirangara Group and and his desire is to own at least ten ac... More from Kirangara 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