Lydia is 40 years old, married and has two children. Five years ago, Mary decided to start a business to put her children through school. She started by purchasing a kerosene pump. She grew her business and until she had three kerosene pumps. Lydia decided to sell that business and took out a loan to purchase a building. Lydia's building has 35 rooms which she rents out to families in a very low income area.
This is Lydia's third loan with KADET. She used her previous loan to paint the building and install running water. With this loan, Lydia will purchase electricity meters for her tenants so that they can regulate their own electric consumption.
In the future, Lydia hopes to expand her business and enter into the business of renting higher value rental homes.
”About KADET:
The Kenya Agency for the Development of Enterprise and Technology (KADET) is dedicated to economically empower her clients by providing financial services to improve living conditions of micro-entrepreneurs and their children across Kenya. KADET is the microfinance subsidiary of World Vision Kenya. Obtain more information on KADET from the website: www.kadet.co.ke
About Housing Loans
Many poor families are financially unable to purchase a house that meets their needs. Housing loans funded on Kiva give families access to capital to improve their homes and an opportunity to pay loans back at a pace that they can handle. The housing and small business loans featured on Kiva share a common purpose: they alleviate conditions of poverty and enable families to lead more stable lives.
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