Update on MondayMonday used the previous loan to buy mattresses to sell. He is a 30-year-old, hard-working man, living in Kasese, Uganda.
Five years ago, he decided to venture into a clothing business in order to raise income for the family. He started his business with one million shillings and now he has four million. Price fluctuations and high fuel and transportation costs are his major challenges while his dream is to trade in wholesale.
Monday intends to use the loan to buy clothes to sell.
Previous Loan DetailsMonday is a thirty-year-old hard-working man living in Kasese, Uganda. He has been in the retail business for four years. He started his business with one million UGX and now has only three million. His hardships include price fluctuations and inflation, high fuel and transportation costs, and in... More from Monday'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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