Update on GeofreyGeofrey is a married man, age 35 with 7 children, 5 of whom are attending various schools. He is a businessman who deals in farm supplies, with a shop at Gunda Trading Centre. He says he works 7 days a week. He raises cattle and this brings him some side income.
He started this business in the year 2009 and he says it has been prosperous. He says that the reason he started this business is to take care of his family, and he has acquired this loan to buy more items/stock for the business so as to expand it. He says that his main clients are from the community in which he stays and neighbours.
Geofrey faces the challenges of bad debtors and the lack of enough funds to expand his business. He describes himself as a hardworking man.
Previous Loan DetailsGeofrey is a new client from Kakuuto. He deals in cattle trading. He wants to buy more cows for trade. He wants a loan of One million Five hundred thousand shillings, over a period of ten months to boost his business. Geofrey is married and has 6 children, 5 of whom are in school. The profit… More from Geofrey'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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- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- Apr 28, 2013
- May 30, 2013
- Currency Exchange Loss:
- Jun 29, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.