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Stephen

Update on Stephen

Stephen is a 63-year-old married man with nine children in Kagadi, Uganda. Due to his need to earn a living, he started a local brew and produce selling business twenty years ago. With the proceeds, he has been able to pay school fees for his children and do farming. He dreams of educating his children up to the university, even though he did not have a chance to further his education due to his parents' poverty conditions.

Stephen is requesting a loan to buy local brew to sell.

Previous Loan Details

Stephen, a 62-year-old man living in Kagadi, Uganda, has been selling local brew for twenty years. Inadequate capital to facilitate the business and customers not paying on time are his major challenges. Stephen intends to use the loan to buy local brew to resell. He would like to build a pe... More from Stephen'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
  • 259
    View loans »
    Uganda Loans Fundraising
  • $31,047,900
    Funds lent in using Kiva
  • 2,636.2
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Stephen to buy local brew to sell.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 6, 2013
Listed
Apr 10, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 19, 2013
This photo was used before for a previous loan for Stephen. It was first posted on Kiva on Aug, 2012. Learn More