Update on ConnieConnie, a widow with two children who both go to school, is a third-time borrower with UGAFODE microfinance, having paid her previous loans well.
She is a poultry farmer who rears layers to sustain her life and take care of her family. She hopes the loan of five million UGX will help her to book chicks to restock the poultry farm since the current stock is tending to off layers. She is optimistic that with the loan she will be able to save on the cost of transportation. She is hardworking.
She’s grateful to funders, especially for helping widows who are working hard to better the lives of their families. Her future plan is to take her children through school successfully, for this was the dream of her late husband, and also to build a house for them to call home.
Previous Loan DetailsConnie is a 51year old widow and mother of two children. She operates a poultry farm that has been struggling because she has constantly had to withdraw all the profits and sometimes the capital to pay tuition for her children. Connie, who lives on the outskirts of the city, is also challenged by... More from Connie's previous loan »
More information about this loan
This loan is part of UGAFODE's program for clients who live in isolated rural areas with limited access to financial services. Uniquely, UGAFODE focuses its efforts on agricultural areas in Uganda that are over 50 km from their branches, providing loans to both groups and individual borrowers. The organization believes that the risk of offering services to remote clients is outweighed by the benefits to customers and their often underserved communities.
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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This loan has been fully funded!
- Repayment Term
- 14 months (Additional Information)
- Repayment Schedule
- May 20, 2014
- May 31, 2014
- Currency Exchange Loss:
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.