Update on RichardRichard used his previous loan to buy maize to sell. He is a 32-year-old married man living in Kamwenge, Uganda. He has been operating a retail shop for the last four years, and, with the income, he has been able to restock his business and to pay school fees for his children. His main hardship is high taxes. Nevertheless, he intends to work hard and to attain his goals of expanding his business to new markets and buying land to grow crops. Richard is requesting a loan to buy general merchandise such as sugar and maize to sell.
Previous Loan DetailsRichard, who used his previous loan to buy sugar to sell, is a 31-year-old married man living in Kamwenge, Uganda. He has been operating a retail shop for the last three years, and with the income earned he has been able to restock his business and pay school fees. His main hardship is high taxes.… More from Richard'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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Success!! The loan was 100% repaid