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Richard

Update on Richard

Richard, a mechanic in Nyahururu town, used his previous loan amount to buy motorcycle spare parts to sell and use in his motorcycle repair business and it has been profitable. Besides the motorcycle repair business, he is also a poultry farmer.

This being his third loan term, he plans to buy chickens to raise and later sell. He will also supply the eggs to various shop retailers. He will use the generated profits to buy more poultry and motorcycle spare parts as well.

He hopes to grow his spare parts and poultry businesses and make more income to improve the living standards of his family.

Previous Loan Details

Richard is 26 years old. He is single and works as a mechanic in Nyahururu. He repairs motorcycles and also sells spare parts for both motorcycles and bicycles. Having paid his first loan well and in good time, he will be taking out his second loan. He plans to use the loan to buy more motorcy... More from Richard'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
  • 855
    View loans »
    Kenya Loans Fundraising
  • $42,924,225
    Funds lent in using Kiva
  • 85.3
    Kenya Shillings (KES) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Richard to buy poultry.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2012
Listed
Nov 5, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013
This photo was used before for a previous loan for Richard. It was first posted on Kiva on Jul, 2012. Learn More