Update on HarrietHarriet is a second-time borrower and a client of UGAFODE Microfinance Limited. She is applying for a loan of two million shillings (UGX 2,000,000). She was forced to pay off her previous loan prematurely, so that she could get a bigger loan to buy more stock of items that were being demanded by her customers.
Harriet says the shop is doing well in terms of sales. However, it has been held down by inadequate capital for increasing her stock. But with the loan facility from UGAFODE, her problem will soon be history.
She says she has plans to educate her children, pay off her loan well, and get subsequent loans to make a good credit history. She also wants to buy her own plot and develop it, by putting up a commercial house to avoid paying rent. She is hard-working and honest.
Previous Loan DetailsHarriet is a first time borrower with Ugafode Microfinance Ltd (MDI), applying for a loan of 1,000,000 shillings. She is married with three children, and renting in Bukeesa, a trading centre outside Kampala city. near a neighboring university where she runs a average shop in her house. She ge... More from Harriet'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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- Repayment Term
- 12 months (Additional Information)
- Repayment Schedule
- Dec 6, 2013
- Dec 20, 2013
- Currency Exchange Loss:
- Aug 17, 2015
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.