Update on RichardRichard used the previous loan to buy fertilizers and pay workers. He is a 44-year-old married man with six children living in Kasese, Uganda. He has been farming bananas and coffee for five years and has recently ventured into fishing. Richard is requesting money to buy fishing nets and boats. His challenges are price fluctuations and inflation. His personal goal is to educate his children, while his business goal is diversifying his businesses to include motorcycle transport.
Previous Loan DetailsRichard is a 44-year-old married man with six children. He lives in Kasese, Uganda. He has been farming bananas and coffee for five years. Richard is requesting money to buy fertilizers and pay workers. His challenges are price fluctuations and inflation. His personal goal is educating his chi... More from Richard'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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