Update on StephenStephen has been in the carpentry business in Nakuru town for the last three years. He is 45 years old, married to Pamela, and they have two children, aged 14 years and 3 years.
Stephen has applied for his second loan from KADET LTD to enable him buy more timber to use in his carpentry shop. He will then be able to meet the demands of his clients.
In the future, Stephen hopes to expand his business and supply furniture to other parts of Nakuru.
Previous Loan DetailsStephen has been in the carpentry business in Nakuru town for the last two years. He is 44-years-old, married to Pamela and they have two children. He was introduced to KADET LTD by one of our field officers and this will be his first loan. He plans to use the loan amount to buy more stock of... More from Stephen'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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