Burungu Karambi Wn Gp Group
Update on Burungu Karambi Wn Gp GroupGrace is also a member of the above-mentioned group where each one guarantees the other in accessing a loan. She is a 37-year-old mother with three children. Her main business is selling fresh foods but she also deals in eucalyptus trees and dairy farming. She has a challenge of customers who delay to pay and unpredictable weather changes, while her dreams are educating her children to higher levels of education and planting more trees.She is next to Patrick on the right hand side.
Grace intends to use the loan to buy bananas to sell and eucalyptus trees for planting.
Previous Loan DetailsPatrick is a 40-year-old married man with five children living in Fort Portal, Uganda. He has a personal goal of educating his children up to the University level. He has been a retailer for four years, and his main hardship is inadequate capital to meet the increasing demand, however, he has a v... More from Burungu Karambi Wn Gp Group's previous loan »
More information about this 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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Success!! The loan was 100% repaid
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Mar 21, 2013
- May 1, 2013
- Currency Exchange Loss:
- Dec 18, 2013
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.