Mugusu Twimuke Tukole Group
Update on Mugusu Twimuke Tukole GroupHenry is a member of the above mentioned group, where each member guarantees the others in accessing a loan. He is a twenty-six-year-old hardworking man with three children, living in Fort Portal, Uganda. He trades agricultural produce, rears animals, and also practices farming.
His personal goals are educating his children to attain degrees as minimum qualifications, and building a permanent house, as he is currently in a semi-permanent dwelling. His business plans are to own a food store and venture into commercialized agriculture.
Henry is requesting the loan to buy produce to sell, such as beans and maize.
Previous Loan DetailsThe goals of Selle, a 64-year-old married man living in Fort Portal, Uganda, are to build a permanent home and educate his children. He has been operating a retail shop for the last eight years, and customers not paying on time are his main hardship. Selle is now requesting a loan to purchase... More from Mugusu Twimuke Tukole 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