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Micahel

Update on Micahel

Michael is 24 years old and married to Rebecca. Together they have one child. He operates a posho mill and has been in the business for the past four years. This is his second term loan. He paid his previous loan well and in good time. He will use the loan to purchase a stock of maize for grinding and then reselling it. He hopes to open a tailoring shop for his wife in the near future.

Previous Loan Details

Michael has operated his posho mill (for grinding maize or grain into flour) in Naivasha town for the last three years. He is 23 years old and married to Rebecca. They have one child. He was introduced to KADET LTD by one of our field officers, and this will be his first loan. He plans to use... More from Micahel'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
  • 615
    View loans »
    Kenya Loans Fundraising
  • $39,851,750
    Funds lent in using Kiva
  • 82.6
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Micahel to buy more maize.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 14, 2012
Listed
Mar 12, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013
This photo was used before for a previous loan for Micahel. It was first posted on Kiva on Sep, 2011. Learn More