Update on DouglasDouglas used his previous loan to buy home products such as kitchen plates, buckets, plastic jugs, basins, etc. to sell in his shop. It was profitable and he was able to repay all of the loan amount.
This will be his second loan and he plans to buy more bags of sugar and rice, maize flour, wheat flour and cooking oil. He also plans to use part of the loan amount to buy educational materials such as books, files, school bags and pens to sell in his retail shop.
Douglas hopes to grow his business and to be able to buy land and build a house for his family as well as to provide a good education for his children.
Previous Loan DetailsDouglas, 28, is married to Doreen, and they have two children. He has operated his retail business in Nakuru for the last four years. Douglas was introduced to KADET LTD by one of its field officers, and this will be his first loan. He plans to use a 20,000 KES loan to buy home products to a... More from Douglas's previous loan »
About VisionFund KenyaVisionFund 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.
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Success!! The loan was 100% repaid