Update on MichealMicheal used a previous loan to buy stationery to sell. He is a 31-year-old married man with one child, living in Kasese, Uganda. He has been operating a stationery shop for four years and also earns a monthly salary as a teacher. His major clients are students and offices, and so he is assured of business all year round. His challenges include insufficient electricity supply and high labor turnover. His dreams are to own a standby generator and to diversify his businesses to include motorcycle transport. Micheal intends to use the loan to buy papers, books and pens to sell.
Previous Loan DetailsMicheal is a 31-year-old married man with one child, living in Kasese, Uganda. He has been operating a stationery shop for four years and also earns a monthly salary as a teacher. His major clients are students and offices, and he is, thus, assured of business all year round. His challenges inclu... More from Micheal'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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