Update on PeterPeter used the previous loan to buy more tea seedlings to plant. He owns a tea plantation, which he started five years ago with his personal savings. Business challenges include fluctuating price and inadequate capital to purchase stock. Peter needs this loan to buy more seedlings to plant tea.
His dream is to educate his children, build a permanent home, and buying land to grow crops.
Previous Loan DetailsPeter is a 31-year old married man with children living in Fort Portal Uganda. He owns a tea plantation, which he started five years ago through his personal savings. He faces hardships of price fluctuation and inadequate capital to purchase stock. His dream is educating his children, building a ... More from Peter's previous loan »
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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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