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Philomena

Update on Philomena

After successfully repaying her previous loans, Philomena is applying for her third loan from KADET LTD. She will use the loan to buy seedlings and fertilizer for her farm.

With the anticipated profit from the business, she will pay for labor. Her hopes and dreams are to continue farming and to improve her family's standard of living.

Previous Loan Details

Philomena, a 68-year-old widowed mother with a 25-year-old son, has been a farmer for the past 20 years, earning a monthly income of KES 8,000 which she uses to support her family. Having repaid her previous loan, Philomena is requesting her second loan with KADET LTD to buy fertilizer and… More from Philomena'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
  • 338
    View loans »
    Kenya Loans Fundraising
  • $38,092,825
    Funds lent in using Kiva
  • 83.1
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $500 helped Philomena to buy fertilizer and seedlings.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 26, 2012
Listed
Apr 18, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 16, 2012
This photo was used before for a previous loan for Philomena. It was first posted on Kiva on Sep, 2011. Learn More