Update on AlfredAlfred used the previous loan to buy rice and sugar to sell. He is a twenty-five-year-old hardworking man with one child living in Kasese, Uganda. His personal goal is to educate his children and build a permanent home.
He has been operating a retail shop for four years now. Alfred started with capital of 2,500,000 only and now his business is worth 6,000,000. The major hardships are price fluctuations, inflation, and inadequate capital to purchase enough stock. However, he has a vision of expanding his business to new markets and diversifying his business to include farming and a hardware shop.
Alfred intends to use the loan to buy iron sheets and cement for resale.
Previous Loan DetailsAlfred is a twenty-five-year-old hardworking man with one child living in Kasese, Uganda. His personal goal is to educate his children and build a permanent home. He has been operating a retail shop for four years now. He started with capital of 2,500,000 only and now his business is worth… More from Alfred'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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