Update on SylverSylver used his previous loan to buy clothes to sell. Being an innovative man, he used the proceeds from the clothing sales, his piggery and restaurant businesses to start up a retail shop dealing in general merchandise for his wife to supplement the family's income. He has great dreams of building a permanent home and educating his children, though he is challenged with limited capital to expand his businesses.
Sylver wants a loan to buy general merchandise such as rice and soap to sell.
Previous Loan DetailsSylver is 53 years old, married with three children, and living in Masindi, Uganda. He is charged with the sole responsibility of supporting the family, since his wife is a stay-home mother. For thirty years now he has been selling clothes and, with the profits, he has managed to set up a… More from Sylver'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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