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Matia

Update on Matia

Matia is a 37-year-old married man living in Kagadi, Uganda. For the past ten years he has owned and run a retail shop. He raised the capital to start this business by selling his crops. The main challenges he faces in his business are price fluctuations and theft.


Matia used his previous loan to buy general merchandise to sell. Matia is now applying for a 1,500,000 UGX loan from HOFOKAM to buy dried cassava and secondhand clothes to sell. His ambition is to educate his children to university level and expand his business.

Previous Loan Details

Matia is 37 years old. He is married and lives in Kagadi, Uganda with his wife and four children. He has been running a retail shop for a period of 10 years. He raised the capital to start this business by selling his crops. He says price fluctuations and theft are the main challenges aff... More from Matia'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
  • 154
    View loans »
    Uganda Loans Fundraising
  • $28,711,800
    Funds lent in using Kiva
  • 2,635.1
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Matia to buy dried cassava and secondhand clothes to sell.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 21, 2013
Listed
Mar 18, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 20, 2013