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Eric

Update on Eric

Eric used a previous loan to buy a printer. He is a 31-year-old businessman living in Bundibugyo, Uganda. He has a stationery shop, and with the proceeds he has been able to meet the basic needs of his family. Nevertheless, he is faced with challenges in his business such as price fluctuation, customers’ delinquencies and inadequate capital to purchase modern equipment. His business goal is to hire employees to help grow his business and expand into new markets. His personal goal is to build a permanent house for residence. Eric intends to use the loan to buy a laminating machine and other items like books.

Previous Loan Details

Eric is a 31-year-old businessman living in Bundibugyo, Uganda. He has a stationery shop, and with the proceeds he has been able to meet the basic needs of his family. Nevertheless, he is faced with challenges in his business such as price fluctuation, customers’ delinquency and inadequate capital… More from Eric's previous loan »

Additional Information

More information about this loan

This loan is part of HOFOKAM's program targeting poor and geographically excluded populations in Western Uganda. In addition to loans, it provides social and business training programs to low-income entrepreneurs and their communities. Since 2003, HOFOKAM has provided sustainable financial and non-financial services to promote social, economic and sustainable land development and improve the quality of life for vulnerable populations. The organization has a clear vested interest in underserved communities with its headquarters in rural Fort Portal and a number of branches in extremely remote areas.
 

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.

About Uganda

  • $1,500
    Average annual income
  • 160
    View loans »
    Uganda Loans Fundraising
  • $28,315,525
    Funds lent in using Kiva
  • 2,654.5
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Eric to buy a laminating machine and other items like books.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 18, 2013
Listed
Feb 10, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013