Abesigamukama Farmers Group
Update on Abesigamukama Farmers GroupMable previously used her Kiva loan to buy more chairs that she rents to the public for functions, being a festive season in which there were many activities. Mable made a fortune, since she charges per chair. She will now use this loan to pay tuition for her daughter at the university whose exam's are due in a month's time. She and the group members thank Ugafode for the continued support and partnership which has enabled them to change their stories for better. Thank you Kiva lenders. One of the members is resting from the loan this cycle.
Previous Loan DetailsMabel is a member of the above-mentioned group, which is new to UGAFODE Microfinance. The group has 15 members and most of the group members are businessmen and women. Mabel is 43 years old, a mother of five and a businesswoman dealing in hiring tents and chairs. She started the business in 2011 ... More from Abesigamukama Farmers Group'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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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- Repayment Term
- 10 months (Additional Information)
- Repayment Schedule
- Apr 15, 2014
- May 27, 2014
- Currency Exchange Loss:
- Feb 20, 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.