Update on MargretMargret is a 46-year-old married female with seven children, three of whom go to school. They live in Kasese, Uganda. She has been working in a salon for six years and decorates for additional income. Margret started her business to cater for her family and educate her children like any loving mother. She hopes to expand her business. However, inadequate capital and debtors are the challenges she faces. Margret has asked for a loan to buy hair weaves to use in her salon.
Previous Loan DetailsMargret is a forty five year old married woman with six children living in Kasese, Uganda. She has been in the salon business for twenty years. She started with 500,000 shillings and now has 10,000,0000 shillings as working capital. The hardships she faces include customers not paying on time and… More from Margret'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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