Kabende Tukurakurane Group
Update on Kabende Tukurakurane GroupDennis used the previous loan to buy clothes to sell. He is a thirty-year-old married man living in Fort Portal, Uganda. He has personal goals of educating his children and building a permanent house house for residence.
He has been selling clothes for the last six years and he has now ventured into timber sales to diversify his income sources. The business is profitable despite the hardships of price fluctuations, inflation, and high fuel and transportation costs. He has a vision of expanding his business to new markets and owning a boutique in the city.
He is a member of the above mentioned group where each one guarantees the other in accessing a loan. Dennis is requesting a loan to buy timber and clothes to sell.
Previous Loan DetailsDennis is a twenty-nine-year-old married man living in Fort Portal, Uganda. He has personal goals of educating his children and building a permanent house. He has been selling clothes for the last five years and the business is beneficial despite the hardships of price fluctuations, inflation and... More from Kabende Tukurakurane Group'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.
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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