Update on PeterPeter is a 42-year-old businessman. He is still selling second hand clothes in an open air market, which he has been doing for the past ten years. He used the previous loan well; he bought second hand clothes, farm manure and seedlings. He is glad both businesses are doing well and he made profit out of it.
He is applying for his fourth loan term from KADET LTD after repaying the previous loans successfully. Peter will use the loan to buy more stock of second hand clothes. With the anticipated profit from the business, he will educate his children and start banana farming.
His hopes and dreams are to open a boutique shop and improve his family living standard.
Previous Loan DetailsPeter is 41 years old and a business man. He is married to Jane, who is a farmer. They are blessed with two children. He has been selling second hand clothes in an open air market as his primary business and also does land farming with the support of his wife as his secondary business. He has been… More from Peter'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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