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Baluku

Update on Baluku

Baluku used the loan to buy general merchandise to sell. He is a forty-two-year-old gentleman who has been running a retail shop for a period of two years. He started as a fishmonger and then got money to start a retail shop. Having inadequate funds is affecting his business since customers have different tastes and demands. He has personal goals of building a permanent house and expanding his business to new markets. Baluku intends to use the loan to buy sugar and salt to sell.

Previous Loan Details

Baluku is a forty-two-year-old gentle man who has been running a retail shop for a period of two years. He started as a fishmonger then got capital to start a retail shop. Inadequate capital is affecting the business since customers have different tastes and demands. He has personal goals of buil... More from Baluku'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

  • $1,800
    Average annual income
  • 309
    View loans »
    Uganda Loans Fundraising
  • $30,615,075
    Funds lent in using Kiva
  • 2,654.5
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Baluku to buy sugar and salt to sell.
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:
Jan 7, 2014