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Michael

Update on Michael

Michael re-married and his current wife is called Seline. He is still operating the tailoring business in Usenge town and his profit increased to Kenya shillings 20,000 after the previous loan boost.

Michael is currently taking a second loan from KADET LTD, which he will use to buy more textile materials, sewing threads and another sewing machine. He intends to use his profits to pay back the loan.

His dream is still to open a tailoring school where he will be able to impart his skills to others.

Previous Loan Details

Michael O. is 42 years old. He is a widower from the Usenge area who has six school-aged children. Michael is a tailor and is known in his neighborhood for making nice clothes. He is applying for his first loan from KADET LTD after being introduced to the organization by a friend who has benefite... More from Michael's previous loan »

Additional Information

About VisionFund Kenya

VisionFund Kenya is dedicated to economically empowering its clients by providing financial services to improve living conditions of micro-entrepreneurs and their children across Kenya. VisionFund Kenya is the microfinance subsidiary of World Vision Kenya. Obtain more information on VisionFund Kenya from its website.

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.

About Kenya

  • $1,800
    Average annual income
  • 732
    View loans »
    Kenya Loans Fundraising
  • $42,304,775
    Funds lent in using Kiva
  • 86.0
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Michael to buy textile materials, sewing threads and another sewing machine.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 16, 2012
Listed
Feb 6, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013