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Kenneth

Update on Kenneth

Kenneth, 28, is honest and hardworking. He is married and has two children. He has been able to provide his family with the basic necessities of life.

Kenneth farms and has a milling machine that he uses to earn a living in his region. He uses the machine to mill maize, millet and ground nuts. His main challenge is when his machinery breaks down, slowing his work and causing a delay in meeting his clients’ needs.

Kenneth is applying for a loan of 2,000,0000 UGX through UGAFODE to buy a plot of land so that he can expand his farm and take further advantage of his milling machine. Kenneth’s dream is to see his business grow from small-scale milling to packaging high-quality maize flour in his region.

Previous Loan Details

Kenneth is 25 years, and married with two children. He is an agriculturalist mainly dealing with coffee as his major source of income. He started the project in 2000, when he bought two hectares for a coffee plantation. Kenneth has learned a lot from this project; he has managed to provi... More from Kenneth's previous loan »

Additional Information

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.

Tags

About Uganda

  • $1,500
    Average annual income
  • 344
    View loans »
    Uganda Loans Fundraising
  • $29,753,750
    Funds lent in using Kiva
  • 2,598.0
    Uganda Shillings (UGX) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $775 helped Kenneth to buy a plot of land.
82% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 11, 2014
Listed
Jun 27, 2014
Currency Exchange Loss:
Possible