Update on BonifaceBoniface used his previous loan amount to buy material for use in his tailoring business.It was profitable and he was able to repay the loan in good time.
This being his second loan amount, he plans to buy more stock of material for use. He plans to use the anticipated income from his business to pay school fees for his children.
In the future, he hopes to grow his business and open a big clothes making shop, making more income and thereby improving the living standards of his family.
Previous Loan DetailsBoniface has operated his tailoring shop in Ndunyu Njeru town for the last three years. He is 35 years old, and he and his wife Elizabeth have two children attending school. He was introduced to KADET LTD by one of their existing clients, and this will be his first loan. He plans to use the loan… More from Boniface'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