Bundimasoli Kweyamba Group
Update on Bundimasoli Kweyamba GroupDaudi, whose hand is raised in a group, is a 47-year-old, married man, with eight children, living in Bundibugyo, Uganda. Daudi is so hard-working that he grows cocoa and sells fish as another source of income to support his family. He plans to educate his children to high levels and expand his cocoa business.
Daudi wants a loan to pay school fees for his children.
The extra people in the photo are children of the group members.
Previous Loan DetailsYeremiya is a forty-five-year-old married man with eight children living in Bundibugyo, Uganda. He has been a fish monger for twenty years. Inadequate capital to meet the high demand from his customers and changes in the weather are his main challenges.
Yeremiya is a member of this loan gr... More from Bundimasoli Kweyamba 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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