Update on MonicaMonica is a 41-year-old enterprising business lady who is married to her husband, Thomas. They both distribute timber and this has been their business for the past 3 years. They earn a monthly income of 15,000 Kenya shillings (KES), which she uses to support her family.
Monica is applying for her fifth loan term from KADET LTD after successfully repaying the previous loans. She used the previous loan to buy a power saw for cutting down timber. Monica will use this loan to buy more trees for timber.
With the anticipated profits from the business, she will buy another power saw. Her hopes and dreams are to expand her timber business, to buy a piece of land, and to build rental houses to improve the living standard of her family.
Previous Loan DetailsMonica is 40 years old enterprising business lady who is married to Thomas. They both distribute timber and this has been their business for the past two years. They earn a monthly income of KES 10,000, which she uses to support her family. She is applying for her third loan term from KADET aft... More from Monica'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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