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Frank

Update on Frank

Frank is aged 34 years and married. He has three children. He is hardworking and innovative. He makes and sells local brew, making some on his own plantation and buying some from neighbors. He has about three acres of land planted with bananas. He has been doing this business since 2003. The business has helped him educate his children and acquire some land. He rears goats for additional income.

He would like a loan of ugx.1,000,000, to boost him in his local brew business, since there is a shortage of bananas that make the local brew. He is challenged by mainly weather, and secondly poor transportation to reach urban areas with his product. His dream is to see himself prosper among his fellow villagers.

Previous Loan Details

Frank is a 33-year-old man, dealing in goat trading as his major source of income. He has been doing the business for the last six years. With his profits, he has managed to take his children to school, construct a permanent house, and to add to his piece of land. Frank has applied for a loan... More from Frank's previous loan »

Additional Information

More information about this loan

This loan is part of UGAFODE's program for clients who live in isolated rural areas with limited access to financial services. Uniquely, UGAFODE focuses its efforts on agricultural areas in Uganda that are over 50 km from their branches, providing loans to both groups and individual borrowers. The organization believes that the risk of offering services to remote clients is outweighed by the benefits to customers and their often underserved communities.

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.

About Uganda

  • $1,500
    Average annual income
  • 356
    View loans »
    Uganda Loans Fundraising
  • $29,766,150
    Funds lent in using Kiva
  • 2,560.0
    Uganda Shillings (UGX) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $400 helped Frank to purchase bananas for making local brew.
99% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 16, 2013
Listed
Oct 3, 2013
Currency Exchange Loss:
Possible
Ended:
May 25, 2015
This photo was used before for a previous loan for Frank. It was first posted on Kiva on Dec, 2012. Learn More