Ibonde Tweyimukye Group
Update on Ibonde Tweyimukye GroupChristopher used the previous loan to buy general merchandise to sell. He is aged 35, trades in produce, and raises goats. He is a member of the above-mentioned group where each member guarantees the other in accessing a loan. Christopher is a very hardworking man and lives with his family in Fort Portal, Uganda. His profits allow him to pay the school fees for his children.
In order to raise money to meet his family's daily expenses, he used his profits from raising goats to start a retail shop and has since reaped tangible benefits. He names price fluctuation and inflation as his primary business challenges. His main business plan is eventually to own a wholesale shop. Christopher intends to use the loan to buy sugar and soap to sell.
Previous Loan DetailsChristopher, age 35, trades in produce and raises goats. With his income, he has also been able to start a retail shop. He is a member of the above-mentioned group where each member guarantees the other in accessing a loan. Christopher is a very hard-working man and lives with his family in Fo... More from Ibonde Tweyimukye Group's previous loan »
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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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid