Benric Cbd Foundation Group
Update on Benric Cbd Foundation GroupWinfred is aged 29 years old, a single mother of three children, two of whom attend school. She is in charge of paying their school fees and even giving them the basic necessities of life. Winfred sells second hand clothes to earn a living for the family. She previously borrowed a loan of 500,000 UGX from Ugafode to buy more stock for her business and she was able to get more returns to pay the school fees.
Winfred has now approached Ugafode to get another loan of 600,000 UGX (six hundred thousand shillings) to buy additional stock for her business for more returns. Her dream is to expand her business to be in a position to support her family and put up a permanent residential house to give her family decent accommodation.
However, her major challenge is the limited capital in the business. She would like to thank Ugafode for funding her and she believes soon, her dreams will come true. She is hardworking.
Previous Loan DetailsZaidah (pictured with her hand raised) is a member of this group. She is a farmer, primarily raising and harvesting maize and beans. However, Zaidah is challenged by the uneven and changing weather and the fact that she has limited capital to invest in agriculture, as well as the poor transport n... More from Benric Cbd Foundation 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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Success!! The loan was 100% repaid