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Michael

Update on Michael

Micheal is twenty-nine years old. A married man with six children, he owns a general shop in Muchatha market in Kiambu town. He has been in the business for four years now and gets a monthly income of thirty-three thousand shillings.

This will be his second loan from KADET Ltd. He plans to use the entire loan to purchase more goods like rice, sugar etc for resale and a deep freezer for his business. He will use the anticipated profit and build rental houses.

In future he wants to build his own house and live a better life.

Previous Loan Details

For the last four years, Michael has been operating a retail shop in Muchatha, Kiambu town. He is 29 years old and married to Jane. He was introduced to KADET LTD by a friend who is also a KADET client. This will be his first loan. He intends to use the loan amount to add a stock of sugar, mai... More from Michael'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
  • 861
    View loans »
    Kenya Loans Fundraising
  • $42,924,225
    Funds lent in using Kiva
  • 84.9
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Michael to add a stock of sugar, maize flour, cereals and cooking oil.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 24, 2012
Listed
Oct 19, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013