Kakoni Traders Group
Update on Kakoni Traders GroupHappy, a 33-year-old female, is married, with four children and is a member of Kakoni Traders Group, living in Kasese, Uganda.
She deals in the salt trade, a business she has been operating for five years. She is also a fishmonger where she gets additional income.
Happy began the business to get profits and to save for her increasing family needs. Despite weather challenges, Happy is hard-working, with hopes of seeing her children attain education. Happy needs the loan to buy salt to sell.
The extra person in the photo is a member of the group who has not taken a loan.
Previous Loan DetailsAida is a thirty-two-year old married woman with four children living in Kasese, Uganda. She is shown in the photo wearing a white t-shirt. She operates a retail shop and also mines salt for a living. The good mother that she is, she wants to educate her children to attain degrees as a minimum qu... More from Kakoni Traders Group'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.
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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